Saipem

Press Release Saipem: Calendar of the Company Events for 2006

San Donato Milanese, 9th January 2006 -Saipem announces the dates of the Board of Directors' Meetings to be called in 2006 in order to examine the Company's financial accounts and the related dates of publication of Saipem results:

• February 27, 2006: preliminary consolidated financial statements at December 31, 2005;
press release and conference call ;
• March 23, 2006: consolidated financial statements at December 31, 2005 and financial statements of Saipem S.p.A. at December 31, 2005; dividend proposal for the financial year 2005; press release;
• May 10, 2006: report on the first quarter 2006; press release and conference call;
• July 26, 2006: report on the second quarter 2006 and preliminary first half data as of
June 30, 2006; press release and conference call;
• September 20, 2006: report on the first half 2006; press release;
• November 7, 2006: report on the third quarter 2006; press release and conference call.
The Annual General Meeting of Shareholders for the approval of the financial statements of Saipem S.p.A. at December 31, 2005 and the allocation of net income will be held on April 27 and 28, 2006 (first and second call, respectively).
Saipem will avail itself of the allowance given by Consob Rules enabling listed companies not to approve nor publish the Report on the fourth-quarter 2005 because consolidated financial statements and Saipem S.p.A. financial statements for the year ended on December 31, 2005 will be published within 90 days of the end of the financial year 2005.

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Saipem

The payment of dividend for the financial year 2005 will take place on May 25, 2006 (being ex- dividend date May 22, 2006).
Any amendments to the above calendar will be notified to the market in due time.

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Saipem

Website: www.saipem.eni.it

Switchboard: +39-025201 Shareholder Information:

Saipem S.p.A., Via Martiri di Cefalonia, 67 - 20097 San Donato Milanese (MI), Italy

Relations with institutional investors and financial analysts: Mr Giulio Bozzini Mr Salvatore Colli Tel.: +39-02520.34653 Fax: +39-02520.54295

E-mail: investor.relations@saipem.eni.it

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