Autogrill : Livio Buttignol appointed Deputy Chairman. Gianmario Tondato Da Ruos named Chief Executive Officer

COMUNICATO STAMPA

AUTOGRILL STRENGTHENS ITS TOP MANAGEMENT TEAM TO OPTIMIZE COMPETITIVENESS AND ENHANCE VALUE

Livio Buttignol appointed Deputy Chairman. Gianmario Tondato Da Ruos named Chief Executive Officer

Milan, February 25, 2003- At a meeting today chaired by Gilberto Benetton, the Autogrill S.p.A. Board of Directors decided to convene the Shareholders' Meeting for April 24 on first call and May 5 on second call. The Board also decided - in light of the increasingly rapid rate of change on its business markets - to strengthen its top management team. "Clear understanding of market trends and timely assessment of their impact on related systems are vital to ensure winning strategies for our organization," said Autogrill Chairman Gilberto Benetton. "To help us achieve our objectives, we shall be setting up activities of enormous importance for Autogrill and its shareholders, to be headed by managers of the highest caliber." One of the new developments is a change in mission for Livio Buttignol, whose priority will be to improve corporate value by optimizing Autogrill's competitive potential and leveraging its excellent relations in the national and international industry. Having obtained successful and constantly improving results as Chief Executive Officer, Livio Buttignol has now been appointed to the post of Deputy Chairman. He will report to the Board of Directors and the Board's Chairman, Gilberto Benetton, with whom he will set objectives and guidelines. The post of Chief Executive Officer is to be assigned to Gianmario Tondato Da Ruos, currently President and Chief Operating Officer at HMSHost, Autogrill S.p.A.'s American subsidiary. Tondato's appointment is a recognition for the excellent results achieved by HMSHost in the last two years, in particular since the tragic events of September 11, 2001. In 2002 Autogrill's American subsidiary grew its operations by 9.8% at constant exchange rates, reporting 9% growth (on a like-for-like basis) in its airport business, set against a 5.2% slowdown in passenger traffic. "Through his successful experience in the USA, Gianmario Tondato will bring international knowhow of the highest level that will ensure Autogrill fresh impetus and full confidence in taking on new challenges in its main concession channels in the USA, Europe and the rest of the world," said Livio Buttignol. Gianmario Tondato Da Ruos will take over as Chief Executive on the next Shareholders' Meeting that will approve the 2002 financial statements. Operations at HMSHost, which accounts for 54% of Group net sales, will continue to be headed by the CEO John J. McCarthy. Note on Livio Buttignol Livio Buttignol was born in 1941 and has a degree in Economics & Commerce from the Catholic University of Milan. He joined the GS - Generale Supermercati Group in 1974, and was GS Chief Executive Office from 1987 to 2000, leading the organization through a period of extraordinary growth (with net sales rising from 1,500 to 8,500 billion Italian lire), initially under the control of SME, and later under the private ownership of Benetton and Del Vecchio. In April 2000 Edizione Holding appointed him to the Board of Directors of Autogrill S.p.A., of which he became Chief Executive in August the same year. Livio Buttignol received the decoration of Cavaliere del Lavoro in 1997. Note on Gianmario Tondato Da Ruos Gianmario Tondato Da Ruos was born in 1960 in Oderzo (Treviso) and joined the Benetton Group in 1987 after a spell working in the Mondadori Group. He moved to the Autogrill Group in 2000 appointed to various assignments in HMSHost, the US company acquired by the Autogrill Group from Host Marriott a few months earlier, reaching the position of President and Chief Operating Officer. In the three years since its acquisition, HMSHost EBITDA has risen from 10.2% to more than 12%, while its concession winning rate stands at 85%. Note on the Autogrill Group Autogrill is the world's leading provider of restaurant services for people on the move. The company is controlled by Edizione Holding, the Benetton family's financial holding, which owns 57.09% of equity. Autogrill operates in 15 countries in four continents: North America and Europe (which account for the majority of its business), Australia and Asia. In 2002, it reported revenues of 3.316 billion euros. The Group operates five main channels: motorways, airports, railway stations, shopping malls and city centers. Note on HMSHost HMSHost, the American company acquired in 1999 by the Autogrill Group, is the leading provider of food, beverage and retail concessions to the travel industry, with sales of about 1.7 billion dollars and a portfolio of brands operated on an exclusive basis through its concession channels including Starbucks, Pizza Hut, Burger King and Chilis' Too. Contact: Antonella Zacchetti - +39 02 4826.3224 - 348.0918005