SUPPLEMENT DATED 18 APRIL 2007 TO THE PROSPECTUS DATED 5 APRIL 2007 BANCA DELLE MARCHE S.P.A. (incorporated with limited liability in the Republic of Italy) €3,500,000,000 Euro Medium Term Note Programme This Supplement (the “Supplement”) to the Prospectus (the “Prospectus”) dated 5 April 2007 which comprises a base prospectus, constitutes a supplement, for the purposes of Article 16 of the Prospectus Directive as implemented by Article 13 of Chapter 1 of Part II of the Luxembourg Act dated 10 July 2005 on prospectuses for securities, to the Prospectus and is prepared in connection with the €3,500,000,000 Euro Medium Term Note Programme (the “Programme”) established by Banca delle Marche S.p.A. (the “Issuer”). Terms defined in the Prospectus have the same meaning when used in this Supplement. This Supplement should be read in conjunction with, the Prospectus and any other supplements to the Prospectus issued by the Issuer. The Issuer accepts responsibility for the information contained in this Supplement. To the best of the knowledge of the Issuer (which has taken all reasonable care to ensure that such is the case) the information contained in this Supplement is in accordance with the facts and does not omit anything likely to affect the import of such information. To the extent that there is any inconsistency between (a) any statement in this Supplement and (b) any other statement in or incorporated by reference in the Prospectus, the statements in (a) above will prevail. This Supplement contains certain corrections to the section “Banca delle Marche S.p.A.” contained in the Prospectus. The section “Banca delle Marche S.p.A.” is restated in full in this Supplement, as amended by the corrections noted in this Supplement and investors should read the restatement in this Supplement as a replacement for the equivalent section in the Prospectus. Save as disclosed in this Supplement, no other significant new factor, material mistake or inaccuracy relating to information included in the Prospectus has arisen or been noted, as the case may be, since the publication of the Prospectus. Copies of this Supplement and the Prospectus are available during usual business hours or any weekday (Saturday or public holidays excepted) at the office of the Paying Agent in Luxembourg and on the Luxembourg Stock Exchange’s website: www.bourse.lu. 1 Corrections to the Prospectus On page 43: • non-consolidated shareholders’ equity (after distribution of dividends) as at 31 December 2005, was Euro 791,301,963, not Euro 823,780,485. • 0.08 per cent. of the share capital was held in the Bank’s own portfolio as at 31 December 2005, not 31 December 2004. • as at 31 December 2005 the Bank had five wholly or majority owned subsidiaries, not four. • Medioleasing S.p.A. was a 100% owned subsidiary as at 31 December 2005 On page 46: • the holding in S.E.D.A. S.p.A. as indicated on the Group structure chart is 41.42%, not 36.06%. On page 47: • net income of Carilo for the year ended 31 December 2005 was Euro 3.6 million, not Euro 2.4 million. On page 49: • reference to notes (3), (4), (5), (6), (7), (8), (9) and (10) in the table of certain non-consolidated balance sheet data and ratios of the Bank as at 31 December 2005 and 2004 are deleted. • net income per share as at 31 December 2004 was Euro 0.018, not Euro 0.081. • risk-weighted assets as at 31 December 2004 were 9,786,925 thousand Euro, not 9,788,978 thousand Euro. On page 50: • consolidated operating income of the Group as at 31 December 2005 was 68,694 thousand Euro, not 68,940 thousand Euro. • outstanding loans to customers represented 78.8 per cent. of the Bank’s total assets as at 31 December 2004, not 69.6 per cent. 2 On page 52: The following table replaces the table of the Bank’s lending to non-financial and family businesses as at 31 December 2005 and 2004: As at 31 December 2005 2004 Amount Composition Amount Composition (EUR/000) % (EUR/000) % Retail and wholesale trade, recovery and repair services............................................................................ 637,828 9.50 702,488 10.48 Construction and public works.................................................. 1,033,953 15.40 1,055,073 15.74 Other marketable services ......................................................... 980,241 14.60 998,767 14.90 Textiles, leather, footwear, clothing .......................................... 248,417 3.70 311,696 4.65 Other industrial products........................................................... 261,845 3.90 319,740 4.77 Other types of business ............................................................. 3.551,695 52.90 3,315,370 49.47 Total ......................................................................................... 6,713,979 100.00 6,703,134 100.00 On page 58: • fee income of Euro 9 million was generated for the year ended 31 December 2005, not Euro 4.2 million. • the Bank sold policies for a total value of Euro 700 million during 2005, not Euro 649 million. 3 Set out below is the complete section “Banca delle Marche S.p.A.” incorporating the corrections outlined in this Supplement: “BANCA DELLE MARCHE S.P.A. Introduction Banca delle Marche S.p.A. (the “Bank”) was established as a joint stock company (società per azioni) on 1 November 1994, with a duration until 31 December 2090 as result of the merger between Banca Carima S.p.A. (established in 1846 as Cassa di Risparmio della Provincia di Macerata) and Cassa di Risparmio di Pesaro S.p.A. (established in 1841). On 31 December 1995, Cassa di Risparmo di Jesi S.p.A. (established in 1844) was merged into the Bank. On 30 June 2003, Mediocredito Fondiario Centroitalia S.p.A., a subsidiary of the Bank, merged with the Bank. The Bank is one of the major banks in terms of total assets in central Italy. The Bank’s activities are concentrated in the Marche region, on the east side of central Italy. As at 31 December 2005 the Bank had 265 branches, located in the regions of Marche (226 branches), Lazio (13 branches), Umbria (11 branches), Emilia-Romagna (7 branches) and Abruzzo (8 branches). The Bank is domiciled in the Republic of Italy and it is registered in the Register of Banks at no. 5236.5 and in the Register of Banking Groups at no. 6055.8. Its registered office is at Via Menicucci, 4/6 in Ancona, with telephone number +3907315391 (switchboard), and its Head Office is at Via Alessandro Ghislieri 6, in Jesi, Ancona. The Bank’s traditional customer base comprises principally retail customers, small and medium-sized businesses and sole traders in the Marche region. The Bank is a full-service bank providing a wide range of services and products to its customers, including current and savings accounts, secured and unsecured loan facilities, mortgage lending, import and export financing facilities, asset management and other investment and savings products. As at 31 December 2005 the Bank’s non-consolidated total assets were Euro 13,700 million (Euro 12,171 million as at 31 December 2004) and its non-consolidated shareholders’ equity (after distribution of dividends for the year 2005) was Euro 791,301,963. As at 31 December 2005, the Bank had issued and fully paid share capital of Euro 386,476,841 held by Fondazione Cassa di Risparmio della Provincia di Macerata (20.94 per cent.), Fondazione Cassa di Risparmio di Pesaro (20.94 per cent.), Fondazione Cassa di Risparmio di Jesi (10.03 per cent.), Commercial Union Italia S.p.A. (2.49 per cent.), Aviva Italia Holding S.p.A.(5.80 per cent.), San Paolo IMI (7.00 per cent.) and with the remainder held by a large number of private shareholders (32.70 per cent.). As at 31 December 2005, 0.08 per cent. of the share capital was held in the Bank’s own portfolio. The Bank’s shares are not listed on any stock exchange, but they are traded through an organised trading system. As at the date of this Prospectus, the following rating was assigned to the Bank by Moody’s: Long-term: Baa1 Short-term: P-2 In addition to being the principal operating entity, the Bank is also the holding company in the banking group (the “Group”), which comprised, as at 31 December 2005, the Bank and its five wholly or majority owned subsidiaries: Focus Gestioni SGR S.p.a. (98.00 per cent.), Marcheriscossioni S.p.a. (100.00 per cent.), Medioleasing S.p.A. (100.00 per cent), Carilo-Cassa di Risparmio di Loreto S.p.A. (“Carilo”) (78.81 per cent.) and Banca Marche Gestione Internazionale Lux S.A. (99.98 per cent). 4 These five subsidiaries are fully consolidated with the Bank for the purposes of the Bank’s consolidated financial statements. Strategy In 2005 the Bank began work on the projects identified in the Bank’s Strategic Plan, which had been approved in November 2004 for the three years 2005-2007 and which reaffirmed the value of the Bank’s independence and of maximum management efficiency in maintaining the role of the Banking Group in the service of the territory and its customer segments. The actions identified – which aim to define new priorities for intervention, lines of development and organisational and managerial measures capable of ensuring balanced and sustainable growth prospects – fit into the framework of the industrial and operational synergies with Banca Marche’s banking and insurance partners, further enhancing the Bank’s active participation in the productive, commercial and social events that express the vitality and character of the territories in which it works. The emphasis put on commercial strategies and the establishment of structured and shared working methods is translated into information, instruments and systems of management and monitoring in support of new service models that take account of the specific nature of the various customer segments, and develop, in a logic of multi-channelling, more efficient and better structured relationships.