Repurchase -Debt Securities

Banca Monte Dei Paschi Di Siena Spa
10 December 2002


Our ref: EDR/98/002

                      10 Dec, 2002


Company Announcements Office
The London Stock Exchange
London
EC2N 1HP


Dear Sirs


Reference Lit 100 billion Index Linked EDR's due 2006  issued by Banca Monte dei
Paschi di Siena Spa. Isin code  XS0086996237


We hereby give you notice that with effect 05/12/2002 we will have repurchased
EDR's totalling more than 10% of the original amount of the issue. All EDR's
repurchased have been cancelled and following this last repurchase the remaining
amount of the issue will be Euro 44,704,509.67.


We trust that this information is satisfactory for your purposes and remain at
your disposal for any further information that you may require.

Yours sincerely,

For and on behalf of Banca Monte dei Paschi di Siena, London Branch


Meb Khatri
Financial Controller


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