Ugo Anatra named General Manager of Piaggio Aero Industries New Team of Managers to Pilot Company Growth

(Genoa, Italy, January 23, 2007) - Piaggio Aero Industries announced today the appointment of Ugo Anatra as its General Manager, Roberto Ciech its new Chief Operation Officer and Giuliano Felten as Commercial & Strategic Procurements Director.

Anatra has considerable professional and managerial experience with Piaggio Aero Industries S.p.A., having spent five years as the company’s Chief Financial Officer and Director of Information Systems.

After graduating in Engineering at the Turin Polytechnic, Anatra began his career with the IBM group, and then worked with Andersen Consulting. In 1988 he was appointed CFO of the Granarolo Group. In 1991 he moved to the ACMA-GD Company, international leader in the production of machinery for packaging, firstly as Chief Financial Officer and then as Chief Executive Officer.

Since 2002, Anatra has been with Piaggio Aero where, as Chief Financial Officer, he has been responsible for the development and implementation of the Group’s financial policies, including joint ventures and new project financing.

Involved in the design, construction and maintenance of both aircraft and aircraft engines, Piaggio Aero Industries is reinforcing its management team in order to drive rapid industrial growth, a result of the spectacular success of its products in world markets.