repurchase of bonds

Banca Monte Dei Paschi Di Siena Spa
19 May 2004


Our ref: EDR 97/002


                        19 May, 2004


Company Announcements Office
The London Stock Exchange
London
EC2N 1HP


Dear Sirs


Reference Lit 250 billion EDR's due 2005 issued by Banca Monte dei Paschi di
Siena Spa. Isin code XS0082121129


We hereby give you notice that with effect 20/5/2004 we will have repurchased
EDR's totalling more than 20% 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 103,213,902.14.


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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