The wish to offer clients a wide choice of new and different investments has lead to the so-called Unit linked policies being imported to Italy from England. Created across the channel, these policies represent a synergy between insurance policies and managed savings and they aim at offering modernized and more profitable social security services.

Thanks to this peculiar feature, the traditional life insurance contract merged with the advantages of a financial investment, Unit Linked policies have spread in our country too, meeting with the approval of the clientele. However the not exceptionally positive trend marked by international financial markets has in fact given rise to an understandable mistrust in the common man in regards to investing his savings in any form of investment which could present even the slightest margin of uncertainty. Toro Assicurazioni has launched a new proposal to meet this reasonable wish for safety expressed by its clients and others - Unit Linked: Toro inQuota Capitale Garantito 2002, meant for those who wish to receive all the advantages resulting from the dynamic management of their financial holdings, with the peace of mind born of the knowledge that they will at least regain the capital invested. The value of the investment, always at its expiry (fixed on April 8 2008), will be equal to: a) The number of shares owned multiplied by the greater value between: - share value on 8/4/2008; - the maximum value of shares for the first year; and, - 75% of the maximum value of the shares reached between the 2nd and 6th year. b) Minimum of the invested capital will be guaranteed. It should also be stressed how, if on the one hand, the investment can be made more flexible by making it redeemable (partially or totally from the end of the first year without any exit charge and free of penalties), a Fidelity bonus is also foreseen at the end of the sale period - in fact Toro Assicurazioni will see that 20% of underwriting costs (see table b) are converted into shares in the Fund, with all the characteristics typical of the investment. Such shares will be charged to the underwriter at the end of the guarantee period.

Furthermore it should also be stressed that as the guarantee in case of death during the entire duration of the contract foresees, according to the age of the insured person: - the greater sum between the exchange value of the shares and the total bonus paid on 8/04/2008 up to the age of 75; and, - the exchange value of shares after 75 years of age, considering that the capital paid, in case of death, is free of all tax deductions and that the payable amounts are neither distrainable nor seizable. With Toro inQuota Capitale Garantito 2002 the Insurance Group based in Turin completes an offer that can satisfy every type of client, from those with a tendency to risk more to those who instead prefer a moderate but certain return on the capital invested. A necessary condition to make a success in a sector such as the management of savings which is daily becoming more competitive lies in paying great attention to the requirements of clients, understanding them even before satisfying them. The constant growth of the Toro Group in recent years is the most evident sign of how the Group knows to perfectly interpret the client’s needs, turning them into guidelines in the realization of its products - the same was done with Toro inQuota Capitale Garantito 2002.

R.P.

Translated by interpres sas