Paris, 27 June 2007

At today's meeting chaired by Ariberto Fassati, the board of directors of CAAM's Italian subsidiary, CAAM SGR, approved the following decisions :

Michel Pelosoff is appointed managing director of CAAM SGR.

CAAM SGR is now organised into four main divisions, leading to three new appointments :
*Roberto Dopudi as head of asset management, *Gabriele Tavazzani as head of marketing & sales, *Giovanni Carenini as general secretary, *Filippo Pellizzetti will continue to head operations.
The boards of the multi-alternative investment companies CA-AIPG SGR and CAAM AI SGR also met. They appointed Marc Romano as managing director of the two companies.