Repurchase-Debt Securities

Banca Monte Dei Paschi Di Siena Spa
20 November 2003


Our ref: EDR 99/009




                                                                  8 Aug, 2003






Company Announcements Office

The London Stock Exchange

London

EC2N 1HP






Dear Sirs


Reference Lit 150 billion EDR's due 2009 issued by Banca Monte dei Paschi di
Siena Spa. Isin code XS0104940449


We hereby give you notice that with effect 8/8/2003 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 46,388,468.77.


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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