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Paul Hastings Represents UBS Limited and Banca IMI on the Listing of Zignago Vetro S.p.A.

June 13, 2007

Paul Hastings Represents UBS Limited and Banca IMI on the Listing of Zignago Vetro S.p.A.

European Offices Advise On One of The Largest Listings on the Italian Stock Exchange of 2007

Milan/London (June 13, 2007) - Paul, Hastings, Janofsky & Walker (Europe) LLP ("Paul Hastings"), a leading international law firm, has represented UBS Limited  ("UBS") and Banca IMI on their role as joint global coordinators, joint bookrunners and joint institutional lead managers to the initial public offering and listing on the MTA-STAR Segment of 25,500,000 ordinary shares of Zignago Vetro S.p.A. ("Zignago Vetro") (the "Offering").

The Offering is split into two parts -  one by way of a secondary offering to retail investors in Italy, representing 25% of the Offering.  The second part is a private offering to international institutional investors in Europe, representing 75% of the Offering. Zignago Holding S.p.A will sell down its current shareholding in Zignago Vetro raising approximately €114,750,000 and will retain a stake of 68.12% in the listed company. The request of shares was 8X the actual shares offered.

"We are delighted to have worked together with UBS and Banca IMI on this major listing," said Bruno Cova, Co-Chair of Paul Hastings Milan Office. "This transaction demonstrates the capabilities of our European capital markets practice and highlights the quality and integration of our services across our European network".
Based on the placing price of €4.50 per share, the market capitalisation of Zignago Vetro following listing and upon commencement of dealings will be approximately €360 million, making it one of the largest listings on the Italian Stock Exchange in 2007.

Zignago Vetro is one of the leading market operators in the production of glass containers for the food and beverage industries in Italy. Zignago Vetro also has a significant presence on the global market in the production of glass containers for the cosmetics and perfumery industries and of specialty glass containers.
The Paul Hastings team was led by Bruno Cova and included partners Ronan O'Sullivan and Joel Simon, as well as associates Federico Zanetti and Luis Morcillo.

About Paul Hastings' Corporate Department: Teams of Paul Hastings' corporate attorneys provide clients with the sophisticated, cross-border legal and business expertise they need to finance and operate companies. The firm's Securities and Capital Markets, M&A, Lending, Project Finance, Private Equity, Investment Management and Securitization practices are nationally and internationally ranked. Paul Hastings' attorneys are experienced in every aspect of modern transactional practice in virtually every industry and service sector. Clients include major financial institutions, domestic, international, public and private companies.

Paul Hastings Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 18 offices. The firm serves a diverse client base including many of the top financial institutions and Fortune 500 companies, supports clients in all of their legal needs and offers deep capabilities in Banking and Finance, Capital Markets, Corporate/M+A, Litigation and Dispute Resolution, Intellectual Property, Project Finance, Investment Management, Real Estate, Labor and Employment and Tax Advisory Services. For additional information, please visit our website at www.paulhastings.com.

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