October 25, 2006 02:00 ET


Sarroch (CA -- (MARKET WIRE) -- October 25, 2006 -- Press Release Milan, 25th October 2006


Saras release quarterly consolidated "proforma" statements for 2005 and 2006

- In order to better explain the impact of the Sarlux acquisition and to facilitate quarter on quarter comparison quarterly consolidated "proforma" statements have been prepared for the year 2005 and the first half of 2006

- Proforma figures also include comparable EBITDA, comparable EBIT and adjusted NET INCOME

- Quarterly Italian GAAP income statements have been made available for the Power Generation segment because they provide a clearer representation of cashflows

- Further details on Saras refining margins have also been included:

o IFRS based criteria adopted for calculating Saras refining margin, full details in the following pages;

o An external refining margin benchmark most relevant to Saras, which will also be published on the company website ( and updated weekly

A conference call for analysts and investors will be held today at 16:00 CET where CFO Corrado Costanzo will be explaining the above mentioned reports and answering to your questions.

Dial in numbers:

For Italy +39 02 8020911

For U.K. +44 208 7929750

A slide presentation has been distributed and is available on our website (

A digital playback of the call will be available until the 3rd of December calling the following number: +39 02 806 137 80 Code: 926 #

Best Regards

Saras SpA

Marco Schiavetti

Manager for Investor Relations

+39 02 7737301

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