“Building a Global Community”

ONCE Global Summit 2005May 4 – 6, 2005Milan, Italy

Hosted by i-Faber (www.1City.biz)

Sponsored by:

Welcome to i-FaberUnicredit Group

Paolo CederleChief Executive Officer

i-Faber

Executive Summary

• i-Faber, Italy’s leading provider of internet-based procurement solutions, is capable of increasing the efficiency of the purchasing process while delivering reduced costs, improved execution and increased profitability

• i-Faber runs the largest many-to-many eMarket in Italy, one of the largest in Europe, ranked in terms of throughput, with transaction of $1.2 bln in 2004 and forecasted volumes of $1.8 bln in 2005

• The company has reached EBITDA break-even in the entire second half of 2004, 3 years since market launch, and will have positive net income in 2005

• The main driver of i-Faber’s business model has been centered on the development of market liquidity in a number of vertical sectors and specific products categories, for which it has become the true point of reference for procurement professionals

i-Faber’s Shareholders

i-Faber’s largest shareholder, Unicredit Group, is Italy’s largest bank by assets under management and is ranked 1st in terms of profitability (5th in Europe)

• 2004 net income $2.1 bln• Current market cap $28.0 bln

Listed on the Milan exchange, ERG is the largest privately-held oil refining and distribution company in Italy. It’s 2004 revenues amount to $9.0 bln with net income of $128 mln

• Doubled its market cap in 2004• Operates nearly 2’000 gas stations

Impregilo Group is Italy’s largest construction and engineering company with annual revenues of $3.8 bln currently active in more that 22 large engineering projects world-wide

• 2003 net income $64.7 mln

i-Faber’s technological partner, Oracle, powers the 1city.biz marketplace through the OEX platform.

Latest Figuresi-Faber has matured a broad set of experiences through the usage of its negotiation platform, 1city.biz, by over 200 large corporate buyer companies, both public and private, and 5.000 vendor organizations registered to the marketplace

General liquidityto date

Economic saving

Supplier base enlargement

Purchasing experience

Product categories negotiated

Forecasted figures

Since April 2002, around 5.000 negotiations were conducted for a total value of $2.2 bln.

The cumulative figures referred to 2004 ( on $1.2 bln of negotiations) underline average savings with reference to the target price (defined b y the single buyer as the price which is possible to reach by a traditional -off line - negotiation or equa l to the actual invoice price) of 12% equa l to $140 mln of declared savingsReferring to 2004, buyer customers benefited from an enlargement of their suppliers’ base of30% on average

Time reduction in negotiation process by 50% with peaks up to 80%

So far multi-country negotiations were made (also extra-European ones) both on buyer and seller sides on over 350 different product categories

In 2005, 1city.biz managed electronic negotiations for a total value of$1.8 bln through over 3.000 transactions

Final figures

Clients by industryBanking and Insurance Oil & Gas Construction & Engineering

CE/White Goods Pharmaceutical Public Utility & Services

Industrial Goods Italian Luxury Brands Food & Beverage

More on i-Faber later…

• A “unique” business model

• An evolving market

• The future

• The Procurement Executive Circle (PEC) Initiative