Formal Notice

Banca Monte Dei Paschi Di Siena Spa
05 August 2003


Our ref: EDR/98/005




                                                          5th Aug, 2003

Company Announcements Office
The London Stock Exchange
London
EC2N 1HP



Dear Sirs


Reference Lit 150 billion Index Linked EDR's due 2004 issued by Banca Monte dei
Paschi di Siena Spa. Isin code XS0091861582


We hereby give you notice that with effect 06/08/2003 we will have repurchased
EDR's totalling more than 10% of the original amount of the issue. All EDR's
repurchased have been cancelled and following this last repurchase the remaining
amount of the issue will be Euro

69,564,153.50.


We trust that this information is satisfactory for your purposes and remain at
your disposal for any further information that you may require.


Yours sincerely,
For and on behalf of Banca Monte dei Paschi di Siena, London Branch



Filippo Piemontese
Assistant to Financial Controller




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