The Board of Directors approved the 4th Quarter Report for 2006

As of 31/12/2006, net sales amounted to Euro 96.5 million (vs. Euro 95.2 million as of 31/12/2005), EBITDA amounted to Euro 10.3 million (vs. Euro 9.6 million as of 31/12/2005), EBIT to Euro 5.9 million (vs. Euro 5.1 million as of 31/12/2005). Earnings before taxes amounted to Euro 5.3 million (vs. Euro 4.7 million as of 31/12/2005).

The Board of Directors of Centrale del Latte di Torino – a Company listed in the Star Segment of Borsa Italiana (the Italian Stock Exchange) which produces and sells fresh milk, dairy, and ultrafresh products – approved today the Financial Report as of 31/12/2006, showing a growth compared to the previous financial year.

With regard to the Consolidated Financial Statement as of end of December 2006, the Group reported sales amounting to Euro 96.5 million, thus with a 1.4% increase over Euro 95.2 million as of 31/12/2005, due to a +3.3% growth in the fresh milk, yoghurt (+3.9%), and the other packaged products (+2.1%) of the fresh/ultrafresh market segment.

With regard to margins, as of 31st December 2006, EBITDA reported by the Group amounted to Euro 10.3 million, thus with a 7.8% growth over Euro 9,6 million in 2005, and EBIT amounted to Euro 5.9 million, with a 16.9% increase over Euro 5.1 million in the previous financial year.

Also earnings before taxes grew over the previous year, which, as of 31/12/2006, amounted to Euro 5.3 million, vs. Euro 4.7 million in 2005 (+13.9%).

The Group’s net financial position as of 31/12/2006 amounted to Euro -6 million vs. Euro -3.4 million as of 30/9/2006, and Euro -2.6 million as of 31/12/2005. This result is due to advanced tax payment for the year and, at the same time, to an additional Euro 1.5 million loan made out for the construction of the plant in Vicenza.

As of end of December 2006, the Holding Company Centrale del Latte di Torino reported total sales for Euro 57.9 million, thus showing an 1.9% increase over Euro 56.8 million in 2005; EBITDA went up to Euro 8 million, with a 8.9% growth over Euro 7.4 million in 2005, whereas EBIT amounted to Euro 6.4 million, showing a 19.1% increase over Euro 5.3 million in 2005. Earnings before taxes amounted to Euro 5.5 million, with a 3.8% growth over Euro 5.3 million in 2005.

As to forecasts, an upward sales trend was confirmed at the beginning of the new year. It is pointed out that 2007 results will be affected by the costs to be incurred in the second half of the year, for the move and start up of production by Centrale del Latte di Vicenza in the new production site.

Further, the Board of Directors approved the new Corporate Governance Code, which has transposed new rules introduced by Borsa Italiana for companies listed in the STAR segment. These new rules also envisage new criteria to assess independence of Directors, as well as the setting up and appointment of a Supervisory Board in charge of setting Directors’ fees.

Members of the Supervisory Board for Directors’ Fees are: Guido Artom (Director), Alberto Tazzetti (Independent Director), and Germano Turinetto (Independent Director).

Members of the Corporate Control Board are: Antonella Forchino (Director), Alessandro Marina (Independent Director), and Ermanno Restano (Independent Director). Giancarlo Moretto is the Head of the Board.

Finally, the Board of Directors approved the new Internal Dealing Code, introducing the so called “black out period”, namely a temporary period when relevant entities are not allowed to trade in company’s shares.

Turin – February 13, 2007