The Board of Directors approved the 3rd Quarter Report as of September 30, 2007. Consolidated net sales amounted to Euro 71,8 million (in line with the same period of last year), EBITDA amounted to Euro 7.2 million (+3.1%), EBIT amounted to Euro 4.4 million (+15.3%), net profit amounted to Euro 554 thousand (vs 1.3 million as of 30/9/2006).

Centrale del Latte di Torino & C. – a Company listed in the Star Segment of Borsa Italiana (the Italian Stock Exchange) which produces and sells fresh milk, dairy, and ultrafresh products – closed its financial period as of September 30, 2007 reporting consolidated net profits amounting to EuroEuro 71.8 million, in line with the figures reported in the corresponding period of the previous financial year (EuroEuro 71.8 million).

EBITDA as of 30/9/2007 amounted to Euro 7.2 million, thus with a 3.1% growth as against Euro 7 million reported in the corresponding period of the previous financial year, and EBIT went from Euro 3.8 million as of 30/9/2006 up to Euro 4.4 million as of 30/9/2007, thus reporting a 15.3% growth.

Net profit as of 30/9/2007 amounted to Euro 554 million as against Euro 1.3 million reported in the corresponding period of the previous financial year. This reduction results out of the European Commission’s decision, according to which tax facilities granted for the years from 1996 to 1999 to municipal companies that were turned into joint stock companies were to be considered as government aids. For this reason, Centrale del Latte di Vicenza, which, at that time, was owned by the Municipality of Vicenza, had to pay Euro 1,065 million to the Internal Revenues for back taxes for the years 1996 – 1999.

Without these back taxes, the net profit for the Company as of 30/9/2007 would have amounted to Euro 1.6 million, with a 23.7% growth as against Euro 1.3 million recorded as of 30/9/2006.

With regard to financial position, the Group’s total debt as of September 30 2007 amounted to Euro 12.7 million as against to Euro 6.3 million as of June Euro 30, 2007 and Euro 3.4 million as of September 30, 2006. This financial situation evolution is strictly connected with the building of new plants in Vicenza and for the subsidiary company Salads & Fruits in Casteggio (PV).

As to the Holding Company, Centrale del Latte di Torino, as of September 30 2007, it reported net sales amounting to Euro 43.2 million, as against Euro 42.8 million as of September 30 2006, with a 0.7% growth. EBITDA amounted to Euro 5.5 million as against Euro 5.4 million reported as of 30/9/2006, with a 1.8% increase; EBIT moved from Euro 4.2 million as of 30/9/2006, up to Euro 4.5 million as of 30/9/2007 (+7.8%); net profit went from Euro 2.2 million as of 30/9/2006, up to Euro 2.4 million as of 30/9/2007, thus reporting a 10.6% increase.
Finally, we wish to remind it here, that last July 4, Centrale del Latte di Torino, following a Euro 2 million capital increase, raised its stake in Salads & Fruits Srl, a company based in Casteggio (Pavia), from 25% to 83.7%. This company produces and sells fresh salads and fruit.

Through this holding, starting from the third quarter of 2007, Centrale del Latte di Torino Group has included Salads & Fruits into its consolidated balance sheet.

Further, due to strong worldwide fluctuations in the price of milk, new price lists were introduced in October and retail prices of all dairy products were revised.

Based on already achieved results and current sales trends, we can expect total results for 2007 FY as a whole to be in line with the previous FY.

The manager in charge of drawing up the corporate accounting books – Mr. Vittorio Vaudagnotti – pursuant to clause 2 of Section 154 bis of the Tax Consolidation Act, hereby states that all information contained in this press release is a true abstract of the information contained in company’s documents, books, and accounts.

The Board of Directors further approved the new guidelines for the adoption of the new organisation, management, and control model as required by Decree Law No. 231/2001.

Turin – November 13, 2007