The Board of Directors approved financial results for the fourth quarter of 2007. At December 31, 2007 consolidated net sales amounted to €99.7 million (up 3.2%), EBITDA to €8,9 million (vs. €10.3 million at December 31, 2006), EBIT to €4.5 million (vs. €5.9 million at December 31, 2006) and pre-tax profit was €3.9 million (vs. 5.3 million at December 31, 2006).

At December 31, 2007, Centrale del Latte di Torino – a dairy company, which produces and sells fresh milk, dairy and ultra-fresh products, listed on the STAR segment of Borsa Italiana (Italian Stock Exchange) – reported consolidated net sales of €99.7 million up 3.2% from €96.5 million in the same period of the prior year.

At December 31, 2007, EBITDA amounted to €8,9 million versus €10.3 million in the same period of the prior year, EBIT was €4.5 million versus €5.9 million at December 31, 2006 and pre-tax profit amounted to €3.9 million versus €5.3 million in the same period of the prior year.

The financial results for the fourth quarter of 2007 were adversely impacted by the considerable increases in raw material prices, which could only partly be passed onto retail prices, as well as by the overall decline in food consumption, which hit also the dairy industry.

The Group’s financial results were also adversely impacted by the start-up costs relating to Salads & Fruits, the subsidiary which produces and sells fresh fruits and salads, as well as by the €240 thousand provision made by the subsidiary Centrale del Latte di Vicenza to cover costs connected to relocation and road works for access to the plant.

At December 31, 2007 the Group reported net debt of €16.4 million versus €12.7 million at September 30, 2007 and €6 million at December 31, 2006. This development in net debt is strictly connected with the construction of the new Vicenza plant.

At December 31, 2007 the parent company Centrale del Latte di Torino reported net sales of €60.1 million up 3.7% from €57.9 million at December 31, 2006. EBITDA amounted to €7.2 million versus €8 million at December 31, 2006; EBIT was €5.5 million versus €6.4 million at December 31, 2006; and pre-tax profit amounted to €4.7 million versus €5.5 million at December 31, 2006.

In the light of the negative sales trend in the traditional retail segment and the continuous pressure on raw material prices, financial results for the first quarter of 2008 are expected to remain in line with those reported for the fourth quarter of 2007, although value sales are expected to increase.

Finally the Bord of Directors approved the organization management and control model as per D.Lgs. 231/2001

Pursuant to section 154 bis, paragraph 2 of the Consolidated Finance Act, the officer in charge of preparing corporate accounting documents, Vittorio Vaudagnotti, hereby certifies that the financial information contained herein reflects the accounting entries, records and books.

Turin – February 12, 2008