TARGETTI GROUP - PRESS RELEASE

The Targetti Group - a European leader in the architectural lighting sector - has confirmed a growth in provisional revenues, for the financial year 2000, of approximately 30% as compared to the previous year; such a result is lower with respect to the predictions expressed in the third quarter mainly caused by a unplanned slippage of some deliveries scheduled for the months of November and December 2000 to the first quarter 2001, and the drop in sales in the United States.

The above-mentioned reallocation is a result of the reorganisation of the logistical area of the parent company and is confirmed by the data referring to the month of January 2001. In this period Targetti Sankey S.p.A. revenues grew at a rate of 36% with respect to the same period of 2000 (in the three years 1997/2000 the average annual growth of the parent company sales in the month of January amounted to 2%) and the consolidated revenues increased by 25%.

The slowdown of the American economy accentuated the drop in sales, already in progress since the beginning of 2000, of the subsidiary Targetti - Tivoli Inc.. The company, at the conclusion of a restructuring phase that is predicted will produce results during 2001, has been the object of a merger with the other company of the group Exterieur Vert Lighting LLC forming Targetti North America Inc..

It is finally significant to indicate that, the Neri Group (leader in the Italian lighting sector of exteriors and urban areas), the acquisition of which on the part of Targetti will be formalised within the 1st half of 2001, have realised a growth in consolidated revenue in the financial year 2000 of approximately 15% with respect to the same period of 1999 during which it closed with revenues of 18 million Euro. The Neri Group will be included in the consolidation area of Targetti as of 1 January 2001.

Contact: Fabio Norcini
Investor Relator
Targetti Sankey S.p.A.
055 3791.299
f.norcini@targetti.it