Partial separation of Nacional Motor S.A.U. in fauvour of the beneficiary Piaggio & C. S.p.A. Becomes Effective

Pontedera xx December 2009 – Following registration of the separation proceedings in the Companies’ Registry of Pisa, the partial separation of Nacional Motor S.A.U. in favour of the beneficiary Piaggio & C. S.p.A. became effective today, in compliance with the applicable legal provisions.

The separation proceedings are available for the public at the Company’s headquarters, at Borsa Italiana S.p.A. and on the www.piaggio.com web site.

Please refer to the press releases issued by Piaggio on 15 September 2009 and 19 October 2009 for any further information on the transaction, approved by the Board of Directors of Piaggio & C. S.p.A. on 19 October 2009.

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