Autogrill closes the offering of Euro 350 million convertible bonds

Wednesday, June 9, 1999

Milano , 09 June 1999 - Autogrill closed the Euro 350 million zero coupon convertible bond offering, (called LYONs™ in the international financial markets) launched yesterday morning. The initial conversion price per share is Euro 14.3, representing an initial conversion premium per share of 30.12% on yesterday official price, with a yield to maturity of 2.00%, 160 basis point lower than the 5-year BTP yield. Merrill Lynch International is Sole Manager and Global Co-ordinator of the Offering. The bonds have been sold to Italian and European institutional investors.