The Board of Directors approved financial results at September 30, 2008. Financial results were impacted by investment in the new Centrale del Latte di Vicenza plant, start-up of the subsidiary ‘Salads & Fruits’ and the general contraction in food consumption. Consolidated net sales grew 9.1% to Euro 78.4 million from Euro 71.8 million at September 30, 2007; EBITDA amounted to Euro 4.4 million versus Euro 7.2 million at September 30, 2007 and EBIT was Euro 823 thousand versus Euro 4.4 million at September 30, 2007. For the period under review Centrale del Latte di Torino posted a net loss of Euro 501 thousand versus net profit of Euro 839 thousand at September 30, 2007.

The Board of Directors of Centrale del Latte di Torino – a dairy company listed on the STAR segment of Borsa Italiana (Italian Stock Exchange) which produces and sells fresh milk, dairy and ultra-fresh products – approved its financial results at September 30, 2008.

At September 30, 2008, the Centrale del Latte di Torino Group reported consolidated net sales of Euro 78.4 million up 9.1% from Euro 71.8 million in the same period of the prior year. EBITDA amounted to Euro 4.4 million versus Euro 7.2 million at September 30, 2007 and EBIT was Euro 823 thousand versus Euro 4.4 million at September 30, 2007. At September 30, 2008 the Group posted a net loss of Euro 501 thousand versus net profit of Euro 839 thousand at September 30, 2007.

At September 30, 2008, the Group’s net debt stood at Euro 31 million versus Euro 16.4 million at December 31, 2007 and Euro 12.7 million at September 30, 2007. The year-on-year increase in the Group’s net debt is closely connected to the completion of construction of the new plant in Vicenza which uses equipment under lease arrangements.

Financial results for the first nine months of 2008 were impacted by amortization and depreciation charges on investment in the new Vicenza plant, interest expense on related financing and the performance of Salads & Fruits, which is still in the start-up stage.

In addition, it should be noted that financial results were impacted by the persistent severe contraction in food consumption and the changes in the milk and dairy industry where Private Labels are gaining greater market share and small retailers are increasingly losing positions to large retail chains.

At September 30, 2008, the parent company Centrale del Latte di Torino reported net sales of Euro 44.3 million up 2.7% from Euro 43.2 million at September 30, 2007.

For the first nine months of 2008, the parent company reported EBITDA of Euro 3.9 million versus Euro 5.5 million at September 30, 2007; EBIT was Euro 2.5 million versus Euro 4.5 million in the same period of the prior and net profit amounted to Euro 264 thousand versus Euro 2.4 million at September 30, 2007.

It should be noted that in October the company started the reorganization of personnel employed at now dismissed plants whose production has been transferred to the new plant in Vicenza, to the Valdagno (Vicenza) and Carmagnola (Turin) facilities. The dismissal of plants generated gains of about Euro 450 thousand.

Consumption is not expected to pick up again before the second half of 2009. Therefore, in the fourth quarter of the current year, sales are projected to decline and operating results to break even.

Pursuant to section 37 of Consob Regulation 16191/2007, we hereby confirm that the company Centrale del Latte di Torino & C. Spa is not controlled by companies incorporated and regulated under the law of states other than EU member states; it is not under the guidance nor the coordination of the parent holding company Centrale del Latte di Torino S.p.A. since the latter is largely focused on the management of civil buildings and does not have an organization suitable to control and/or direct operational decisions.

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 – November 11 2008