PRESS RELEASE

Targetti Group: proposal of capital increase reserved to NERI

SHAREHOLDERS’ MEETING WILL MEET ON 24 JULY 2001
LUCIANO SORBI ENTERS TARGETTI BOARD OF DIRECTORS

The Board of Directors of Targetti Sankey S.p.A. which met in Florence in the presence of Paolo Targetti approved a proposal of capital increase to submit to the Shareholders’ meeting.

Capital Increase. The Board of Directors approved a proposal to increase authorised capital with an issue of 2.700.000 ordinary shares of Targetti Sankey S.p.A. with a nominal value of 0,52 Euro, for a total of 1.404.000 Euro, with a premium of 0,92 Euro, for a total of 2.484.000 Euro with exclusion of the option rights in compliance with article 2441 c.c. reserved to Domenico Neri S.r.I. that will confer on Targetti Sankey S.p.A. the shares equal to 100% of the company Neri S.p.A. as per the agreement signed last October between Targetti Sankey S.p.A. and Domenico Neri S.r.I.

Calling of Shareholders’ meeting. The above proposal will be submitted to the approval of the Shareholders’ meeting for 24 July 2001 (first call) and 25 July 2001 (second call) which will be held at Villa La Sfacciata, 82, Via Volterrana, Florence.

Appointment. Luciano Sorbi enters the Board of Directors of Targetti Sankey S.p.A.; he replaces the resigning Eden Daniele Tosi.

For further information please contact:
Fabio Norcini
Investor Relations
Targetti Sankey S.p.A.
+39 055 3791.299

Florence, 24 July 2001

The Targetti Group, with headquarters in Florence, is one of the leaders in the interior and exterior architectural lighting sector. The Group produces and markets sophisticated equipment, providing a perfect synthesis of technology and design, utilised to light major works of art such as Michelangelo’s David and the Last Supper by Leonardo da Vinci, as well as the Archaeological National Roman Museum, not to mention the Amsterdam Railway Station, the Bilbao Subway, the New York
Stock Exchange, restaurants of the Mc Donald’s chain, plus the showrooms of Benetton, Bang & Olufsen and Diesel, up to and including the pit station of the Mc Laren Grand Prix racing team.