PIAGGIO ANNOUNCES DETAILS OF APRILIA DEAL

January 11th 2005. Piaggio finalised its acquisition of Aprilia when the contract was signed on December 28th 2004.

Roberto Colaninno is the Chairman of the Board of Directors, which will serve until December 31st 2006. The other members of the Board have been announced as Michele Colaninno, Luciano La Noce, Rocco Sabelli, Gianclaudio Neri, Massimo Pirzio Biroli and Amedeo Nodari. Ivano Beggio will act as Honorary Chairman.

Robert Colaninno, Piaggio Chairman, said: "Piaggio's acquisition of Aprilia sees the creation of the fourth largest motorcycle group worldwide. The new Italian two-wheel group, with revenues of 1.5 billion euro, a production capacity of over 600,000 vehicles a year and a presence in 50 countries, is ready to take up the challenge of the major international producers."

The new group will provide a wide product range, from 50cc scooters to 1000cc motorcycles, with a 24 per cent market in Europe and 35 per cent in Italy, eight industrial plants worldwide, six research and development centres, and 6,000 employees.

For further information, visit: www.piaggio.com