PRESS RELEASE

Azimut and Siqurgest launch an and distribution partnership in targeting HNWI and Institutional clients.

Milan, 29th June 2011

Azimut Group continues its internationalisation strategy with a new partnership in Switzerland. Today, Azimut Holding signed an agreement with SIQURGEST, a Swiss based advisory company, for the production and distribution of asset management products to HNWI and institutional clients.

This is a first step within a broader cooperation among the two companies, which allows SIQURGEST to include Azimut’s products within its offering to the Swiss market and provide Azimut with its asset management and advisory services.

In particular, a new UCITS III (200/100) sub‐fund named Area Euro Growth has been created within Azimut based AZ Fund Management.

The new sub‐fund will invest following an absolute return strategy investing in equity, bond and money market instruments without limitation in terms of asset class exposure. In order to increase the product’s efficiency, the management team, which has a long experience in the industry, has developed a proprietary system analysing in a very detailed manner and in a short timeframe a very high number of stocks.

SIQUREGEST’s team is made up of three professionals with more than 15 years experience on financial markets. Michele Siega has been Head of European equity sales for institutional clients both in and Citigroup; in BNP Paribas he has been Head of sales and trading and then became General Manager in Exane BNP Paribas . Andrea Cogrossi was equity sales in BNP Paribas for institutional clients since 1999, while Nicola Presa worked as a fund manager in Aureo Gestioni and then in a number of Swiss fiduciary companies as fund manager for discretionary accounts.

Pietro Giuliani, Chairman and CEO of Azimut, comments: “After few days from the launch of the first European UCITS III fund investing in RMB, we have launched a new partnership outside our domestic market. The new Area Euro Growth continues Azimut trademark to pursue an absolute return strategy with a volatility profile in line with the needs of HNWI and institutional clients”.

Michele Siega, SIQURGEST CEO comments: “the choice to cooperate with Azimut allows us to combine both parties’ desire to grow and Azimut constant product innovation pursuit; in addition, Azimut independence is a guarantee for the advisory services we offer to our current and potential client base”.

Azimut is Italy’s leading independent asset manager (active since 1989). The Parent Company Azimut Holding was listed on the Italian stock exchange on 7 July 2004 (AZM.MI) and, among others, is a member of the main Italian index FTSE MIB. The shareholder structure includes over 1,200 managers, employees and financial advisors, bound by a shareholders’ agreement that controls around 25% of the company. The remaining is free float. The Group comprises various companies active in the sale, management and distribution of financial and insurance products, with Registered Offices in Italy, Luxembourg, Ireland and . In Italy, Azimut SGR sells and manages Italian mutual funds, as well as being active in the discretionary management of individual portfolios, while Azimut Capital Management SGR is an Italian management company. Azimut Consulenza SIM and AZ Investimenti SIM distribute Group and third party products in Italy via a network of financial advisors. Overseas operations are AZ Fund (founded in Luxembourg in 1999), which manages the multi strategy fund AZ FUND1 and AZ Multi Asset, the Irish AZ Life Ltd, which offers life insurance products, and AZ Capital Management Ltd (hedge fund).

AZIMUT HOLDING SpA – IR WEBSITE www.azfund.com

INVESTOR RELATIONS Fabrizio Armone tel +39.02.8898.5853 +352.621.311215 Gabriele Blei tel +39.02.8898.5849 +352.621.454842