DISCLAIMERS BORSE ESTERE

XETRA, FRANCOFORTE, REG. GERMAN SE, EUREX

Source: "Deutsche Borse AG"

EURONEXT STOCK EXCHANGE (AMSTERDAM, PARIGI, BRUXELLES, LISBONA), EURONEXT LIFFE

Source: "Euronext"

LONDON STOCK EXCHANGE

Source: "The London Stock Exchange plc"

SWISS STOCK EXCHANGE (SWX), SWX EUROPE LIMITED, BERNA

Source: "EXFEED Ltd."

SPANISH STOCK EXCHANGE - MADRID

Source: "Sociedad de Bolsas, S.A. "

BBA LIBOR

Source: BBA Enterprises Limited

In consideration for BBA Enterprises Limited ('BBAE') coordinating and the BBA Libor Contributor Banks and Reuters (the 'Suppliers') supplying the data from which BBA Libor is compiled, the subscriber acknowledges and agrees that, to the fullest extent permitted by law, none of BBAE or the Suppliers:

(1) accept any responsibility or liability for the frequency of provision and accuracy of the BBA Libor rate or any use made of the BBA Libor rate by the subscriber, whether or not arising from the negligence of any of BBAE or the Suppliers; or

(2) shall be liable for any loss of business or profits nor any direct, indirect or consequential loss or damage resulting from any such irregularity, inaccuracy or use of the Information.

FTSE

Source: "FTSE International Limited"

FTSE™

"FTSE™" is a trademark of the London Stock Exchange Plc and The Financial Times Limited and is used by FTSE International Limited ("FTSE™") under licence. All-World™, All-Small™, All-Share™, Euromid™, Ebloc™, eTX™, FTSE4Good™ are trade marks of FTSE™. "Fledgling™" and techMARK™ are trade marks of the London Stock Exchange Plc and are used by FTSE™ under licence. Borsa Italiana is licensed by FTSE™ to redistribute the All-World™, All-Small™, All-Share™, Euromid™, Ebloc™, eTX™, FTSE4Good™, Fledgling™ and techMARK™ indices. The FTSE All-World™, All-Small™, All-Share™, Euromid™, Ebloc™, eTX™, FTSE4Good™, Fledgling™ and techMARK™ indices are calculated in accordance with a standard set of ground rules established by FTSE™ in conjunction with the Institute and Faculty of Actuaries and all rights in and to the All-World™, All-Small™, All-Share™, Euromid™, Ebloc™, eTX™, FTSE4Good™, Fledgling™ and techMARK™ indices vest in FTSE™ and/or its licensors. All information is provided for reference only. Neither FTSE™ nor its licensors shall be responsible for any error or omission in the All-World™, All-Small™, All-Share™, Euromid™, Ebloc™, eTX™, FTSE4Good™, Fledgling™ and techMARK™ indices.

FTSEurofirst Indices

"FTSE™" is a trade mark of the London Stock Exchange Plc and The Financial Times Limited and is used by FTSE International Limited ("FTSE™") under licence. "Eurofirst" is a trade mark of FTSE and Euronext N.V. or its subsidiaries ("Euronext"). Borsa Italiana is licensed by FTSE™ to redistribute the FTSEurofirst Indices. The FTSEurofirst Indices are calculated by FTSE™ in conjunction with Euronext in accordance with a standard set of ground rules. The FTSEurofirst Indices are the proprietary interest of Euronext and FTSE. FTSE and Euronext shall not be responsible for any error or omission in the FTSEurofirst Indices.

FTSE Eurotop™ 100 Index

"FTSE™" is a trade mark of the London Stock Exchange Plc and The Financial Times Limited and "Eurotop" is a trade mark of Euronext N.V. or its subsidiaries ("Euronext") and are used by FTSE International Limited ("FTSE™") under licence. Borsa Italiana is licensed by FTSE™ to redistribute the FTSE Eurotop™ 100 Index. The FTSE Eurotop™ 100 Index is calculated by FTSE™ in conjunction with Euronext in accordance with a standard set of ground rules. The FTSE Eurotop™ 100 Index is the proprietary interest of Euronext and FTSE. FTSE and Euronext shall not be responsible for any error or omission in the FTSE Eurotop™ Indices.

FTSE Xinhua Indices

"FTSE™" is a trade mark of the London Stock Exchange Plc and The Financial Times Limited and is used by FTSE International Limited ("FTSE™") under licence. "Xinhua" is a trade mark of Xinhua Finance ("XFN") and is used by FTSE™ under licence. Borsa Italiana is licensed by FTSE™ to redistribute the FTSE Xinhua Indices. The FTSE Xinhua Indices are calculated by FTSE™ in conjunction with FTSE/Xinhua Index Limited and XFN in accordance with a standard set of ground rules. The FTSE Xinhua Indices are the proprietary interest of FTSE/Xinhua Index Limited and/or its licensors. Neither FTSE, XFN or FTSE/Xinhua Index Limited shall be responsible for any error or omission in the FTSE Xinhua Indices.

CHICAGO MERCANTILE EXCHANGE

Source: "Chicago Mercantile Exchange, Inc."

NYMEX - NEW YORK MERCANTILE EXCHANGE

Source: "The New York Mercantile Exchange, Inc."

NASDAQ STOCK EXCHANGE

Source: "The Nasdaq Stock Market Inc."

AMEX - AMERICAN STOCK EXCHANGE

Source: "American Stock Exchange, LLC"

NYSE - NEW YORK STOCK EXCHANGE

DOW JONES

Source: "Dow Jones & Company, Inc."

The Dow Jones Indexes (sm) are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones Indexes (sm) © 2006 is proprietary to Dow Jones & Company, Inc.

NIKKEI

EuroMTS

Source: "EuroMTS Limited"

Blue Financial Communication Srl (BFC)- Fondi

2007 BFC. Tutti i diritti sono riservati. Le informazioni qui contenute: (1) sono proprietà di BFC (2) non possono essere copiate; (3) usate per analisi di portafoglio; (4) integrate in altre piattaforme; (5) stampate od utilizzate per creare report o presentazioni.

Le informazioni non devono essere utilizzate senza un’appropriata verifica da parte dell’utilizzatore e se opportuno un parere professionale. BFC non è responsabile per qualunque danno o perdita derivante da qualunque uso delle informazioni e chi visiona tali informazioni deve considerarsi unico responsabile dell’uso delle stesse. Non vi è garanzia alcuna che i risultati del passato trovino un riscontro nel futuro.