Repurchase of EDR's

Banca Monte Dei Paschi Di Siena Spa
7 May 2002

Our ref: EDR 98/L003

                07 May, 2002


RNS

The London Stock Exchange


Dear Sirs



Reference Lit 150,000,000,000 Index Linked EDR's due 2005 issued by Banca Monte
dei Paschi di Siena Spa. Isin code XS008009799

We hereby give you notice that with effect 07/5/2002 we will have repurchased
EDR's totalling more than 15% of the original amount of the issue. All EDR's
repurchased have been cancelled and following this last repurchase the remaining
nominal amount of the issue will be Euro 65,835,343.21.

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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