15.11.2003 FIAT LOOK TO PENETRATE RUSSIAN MARKET AS CHAIRMAN UMBERTO AGNELLI VISITS CHINA

Fiat sign Protocol of Intent with CBE of Russia

The Chief Executive Officer of Fiat, Giuseppe Morchio, and the Chairman of Company Basic Element Oleg V. Deripaska signed today a Protocol of Intent to explore the possibility of cooperation within the framework of the activities performed by the two partners in the automotive field.

The signing of the Protocol of Intent was preceded by a series of contacts that began this past June. More specifically, the two partners will examine the following two possibilities. Firstly, the import and distribution of Fiat Auto vehicles in the Russian Federation, with a view to manufacturing them locally in the future, and secondly the import of Iveco 8140 (Sofim) diesel engines to equip Gaz light commercial vehicles, again with a view to producing them in Russia.

Further business opportunities in the field of light commercial vehicles will be evaluated as well. This initiative is an opportunity for the Fiat Group to increase its presence in Russia.

Umberto Agnelli visits The Fiat plant in Nanjing

During his recent visit to China, the Chairman of Fiat Mr. Umberto Agnelli visited the Nanjing-Fiat plant in Nanjing where the Fiat Palio and Siena are manufactured. Nanjing-Fiat is a joint venture between Fiat Auto and the Chinese Group YMC.

While in China he participated in the International Business Leader’s Advisory Committee for the Mayor of Shanghai. During the meetings held in Beijing with the Vice Prime Minister, Zeng Peiyan, and in Nanjing with the Governor of the Province of Jiangsu, Liang Baohua, Umberto Agnelli reaffirmed the strategic importance of China in Fiat’s international development plans: “We were among the first companies that invested in this country and we will continue to invest here because we want to be among the key players in the development of the Chinese market”.

With its companies (Fiat Auto, Iveco, CNH Global, Magneti Marelli, Teksid and Comau), the Fiat Group participates in 13 industrial initiatives in China, which employ more than 10,000 people.