Repurchase of Bonds

Banca Monte Dei Paschi Di Siena Spa
22 December 2003


Our ref: EDR 99/003

                        22 Dec, 2003

Company Announcements Office
The London Stock Exchange
London
EC2N 1HP


Dear Sirs


Reference Lit 200 billion EDR's due 2005 issued by Banca Monte dei Paschi di
Siena Spa. Isin code XS0097523319


We hereby give you notice that with effect 4/12/2003 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

92,944,156.89.


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


Meb Khatri
Financial Controller


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