Announcement

Milan , 17 February 2004 - Autogrill said that details would be published today on its website www.autogrill.com about Group objectives for the three-year period 2004-2006 – on which it released a statement on January 27 last – together with growth scenarios for its key markets in Italy, Europe and North America.
The difficult 2001-2003 period is expected to be followed by three years marked by a recovery in productivity and spending in the US economy, as a result of tax and monetary policies. Growth will be more contained but equally positive in Europe, where an annual average rise of 2.4% is expected in motorway transport (Italy +2.5%).
Projections for the airport channel see annual average growth of around 3.3% in Europe and around 3.6% in North America, with a growing shift in traffic volumes toward Asia and the Pacific. In light of these prospects, Autogrill expects to report significant growth in terms of Sales, Ebitda and Free Cash Flow.