Repurchase of Bonds

Banca Monte Dei Paschi Di Siena Spa
07 December 2004


Our ref: EDR/98/003

7th Dec, 2004



Company Announcements Office
The London Stock Exchange
London
EC2N 1HP



Dear Sirs

Reference Lit 150 billion Index Linked EDR's due June 2005 issued by Banca Monte
dei Paschi di Siena Spa. Isin code XS0088009799

We hereby give you notice that by 08/12/2004 we will have repurchased EDR's
totalling more than 25% of the original amount of the issue. All EDR's
repurchased have been cancelled and following the latest repurchase the
remaining amount of the issue will be Euro 56,954,920.

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

Mr Meb Khatri
Financial Controller




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