MIRA INFORM REPORT

Report Date :

21.07.2007

IDENTIFICATION DETAILS

Name :	Azimut - Benetti S.p.a.

Registered Office :	Via Michele Coppino, 104 55049 - Viareggio (LU) -IT

Country :	Italy

Financials (as on) :	31.08.2006

Date of Incorporation :	27/03/1996

Legal Form :	Joint Stock Company

Line of Business :	Ship building, repairing and maintenance. Production of pressed wired glass products. Production of plastic boats.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large

Maximum Credit Limit :	796.900 - Eur

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

name & address

Azimut - Benetti S.p.a.

Via Michele Coppino, 104

55049 - Viareggio (LU) -IT-

SUMMARY

Legal Form	:	Joint stock company
Start of Activities	:	27/03/1996
Patrimonial Consistence	:	Over 2.500.000 Eur
Turnover Range	:	over 150.000.000 Eur
Number of Employees	:	from 1 to 5

CREDIT ANALYSIS

CREDIT OPINION

796.900 - Eur

ACTIVITY

Ship building, repairing and maintenance.

Production of pressed wired glass products.

Production of plastic boats.

LEGAL DATA

Legal Form : Joint stock company

Fiscal Code : 00986700011

Foreign Trade Reg. no. : LU004078 since 21/12/1991

Foreign Trade Reg. no. : 004078 of Lucca since 21/12/1991

Chamber of Commerce no. : 364816 of Genova

Chamber of Commerce no. : 128510 of Livorno

Chamber of Commerce no. : 123566 of Lucca since 16/01/1986

Chamber of Commerce no. : 144088 of Pisa

Chamber of Commerce no. : 143320 of Pesaro

Chamber of Commerce no. : 124315 of Savona

Chamber of Commerce no. : 479013 of Torino

Chamber of Commerce no. : 793382 of Torino

Firms' Register : LU017-19520 since 19/02/1996

V.A.T. Code : 01390230462

Foundation Date	: 19/01/1974
Establishment Date	: 19/01/1974
Start of Activities	: 27/03/1996
Legal Duration Date	: 31/12/2050
Nominal Capital	: 9.756.000	Eur
Subscribed Capital	: 9.756.000	Eur
Paid up Capital	: 9.756.000	Eur

MEMBERS

Varazzani

Massimo

Born in Parma

(PR)

on 24/01/1951

- Fiscal Code : VRZMSM51A24G337P

Residence :

Viale

Magenta

, 1/1

- 43100

Parma

(PR)

- IT -

Position	Since	Shares Amount	% Ownership
Director	01/03/2006

No Protests registered.

Rossi Di Montelera

Lorenzo

Born in Pianezza

(TO)

on 30/08/1940

- Fiscal Code : RSSLNZ40M30G559O

Residence :

Via

Quai Gustave Ador

, 50

Ginevra

- CH -

Position	Since	Shares Amount	% Ownership
Director	24/02/2005

No Protests registered.

Vitelli

Paolo

Born in Torino

(TO)

on 04/10/1947

- Fiscal Code : VTLPLA47R04L219T

Residence :

Via

Bezzecca

, 6

- 10100

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Managing Director	28/02/2005
Director	24/02/2005
Board Chairman	24/02/2005

No Protests registered.

Boschetti

Giancarlo

Born in Torino

(TO)

on 14/11/1939

- Fiscal Code : BSCGCR39S14L219X

Residence :

Strada

Alla Villa D'aglie'

, 20

- 10100

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Director	07/06/2005

No Protests registered.

Scarzello

Osvaldo

Born in Alba

(CN)

on 23/04/1960

- Fiscal Code : SCRSLD60D23A124L

Residence :

Via

Filadelfia

, 243

- 10100

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	12/12/2005

No Protests registered.

Nobili

Guido

Born in Milano

(MI)

on 31/03/1947

- Fiscal Code : NBLGDU47C31L750M

Residence :

Via

Urbano Iii

, 3

- 20100

Milano

(MI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	24/02/2005

No Protests registered.

Fantozzi

Massimo

Born in Lucca

(LU)

on 04/09/1949

- Fiscal Code : FNTMSM49P04E715L

Residence :

Via

Puccetti

, 69

- 55100

Lucca

(LU)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	01/08/2005

No Protests registered.

Poerio

Vincenzo

Born in Napoli

(NA)

on 19/09/1955

- Fiscal Code : PROVCN55P19F839F

Residence :

Via

Del Molo Mediceo

, 30

- 57100

Livorno

(LI)

- IT -

Position	Since	Shares Amount	% Ownership
Managing Director	28/02/2005
Director	24/02/2005
Procurator	01/07/2005

No Protests registered.

Venditti

Francesco

Born in San Severo

(FG)

on 29/01/1957

- Fiscal Code : VNDFNC57A29I158D

Residence :

Strada

Sottorivara

, 8

- 10010

Candia Canavese

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	12/12/2005

No Protests registered.

Cavalli

Diego

Born in Torino

(TO)

on 28/09/1960

- Fiscal Code : CVLDGI60P28L219D

Residence :

Viale

Xxv Aprile

, 159 INT4

- 10100

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	24/10/2005

No Protests registered.

Martini

Federico

Born in Venezia

(VE)

on 04/12/1959

- Fiscal Code : MRTFRC59T04L736Z

Residence :

Via

Coppino

, 104

- 55049

Viareggio

(LU)

- IT -

Position	Since	Shares Amount	% Ownership
Managing Director	05/05/2006
Director	01/03/2006
Procurator	24/10/2005

No Protests registered.

Vitelli

Giovanna

Born in Torino

(TO)

on 29/04/1975

- Fiscal Code : VTLGNN75D69L219K

Residence :

Via

Giacosa

, 31

- 10100

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Director	24/02/2005

No Protests registered.

Marconcini

Simone

Born in Fucecchio

(FI)

on 17/03/1963

- Fiscal Code : MRCSMN63C17D815K

Residence :

Via

C. Golfo Paradiso

, 78/2

- 16036

Recco

(GE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	11/01/2007

No Protests registered.

Pecorelli

Attilio

Born in Roma

(RM)

on 21/10/1957

- Fiscal Code : PCRTTL57R21H501D

Residence :

Strada

Maddalena

, 102/12

- 10024

Moncalieri

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	04/07/2006

No Protests registered.

Nannetti

Francesco

Born in Palermo

(PA)

on 21/09/1964

- Fiscal Code : NNNFNC64P21G273Z

Residence :

Corso

Sacco E Vanzetti

, 11

- 10100

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	31/07/2006

No Protests registered.

Virginio

Simone

Born in Carrara

(MS)

on 26/01/1974

- Fiscal Code : VRGSMN74A26B832C

Residence :

Via

San Pancrazio

, 73/C

- 10044

Pianezza

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	08/01/2007

No Protests registered.

Bertetti

Paolo

Born in Torino

(TO)

on 13/07/1956

- Fiscal Code : BRTPLA56L13L219P

Residence :

Lungo

Po Antonelli

, 163

- 10100

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	07/03/2005

No Protests registered.

Porro

Ermanno

Born in Savigliano

(CN)

on 20/07/1953

- Fiscal Code : PRRRNN53L20I470W

Residence :

Via

Cavour

, 11

- 12042

Bra

(CN)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	07/03/2005

No Protests registered.

Sburlati

Luca

Born in Torino

(TO)

on 22/07/1970

- Fiscal Code : SBRLCU70L22L219T

Residence :

Via

Lomellina

, 18

- 10100

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	31/03/2006

No Protests registered.

Pisciotta

Salvatore Francesco

Born in Pagani

(SA)

on 01/08/1964

- Fiscal Code : PSCSVT64M01G230V

Residence :

Piazza

Mazzini Giuseppe

, 92

- 57100

Livorno

(LI)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	27/10/2005

No Protests registered.

Mazza

Renato

Born in Carrara

(MS)

on 03/06/1956

- Fiscal Code : MZZRNT56H03B832L

Residence :

Via

Forma Bassa - Nazzano

, 20

- 54033

Carrara

(MS)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	27/10/2005

No Protests registered.

Rivetti

Giovanna

Born in Torino

(TO)

on 21/02/1970

- Fiscal Code : RVTGNN70B61L219N

Residence :

Via

Caminate

, 49

- 61032

Fano

(PS)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	27/10/2005

No Protests registered.

Baldacchino

Giuseppe

Born in Taranto

(TA)

on 26/01/1970

- Fiscal Code : BLDGPP70A26L049K

Residence :

Via

Cisanello

, 18/B

- 56100

Pisa

(PI)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	27/10/2005

No Protests registered.

Arri

Bruna Maria

Born in Asti

(AT)

on 13/09/1959

- Fiscal Code : RRABNM59P53A479D

Residence :

Via

Coppino

, 104

- 55049

Viareggio

(LU)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	25/10/2005

No Protests registered.

Garassino

Ugo

Born in Principato Di Monaco

on 18/01/1958

- Fiscal Code : GRSGUO58A18Z123A

Residence :

Via

Coppino

, 104

- 55049

Viareggio

(LU)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	25/10/2005

No Protests registered.

Cristino

Luca

Born in Torino

(TO)

on 15/05/1966

- Fiscal Code : CRSLCU66E15L219W

Residence :

Via

Coppino

, 104

- 55049

Viareggio

(LU)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	17/11/2005

No Protests registered.

Valle

Marco

Born in Trieste

(TS)

on 28/07/1968

- Fiscal Code : VLLMRC68L28L424W

Residence :

Via

Coppino

, 104

- 55049

Viareggio

(LU)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	17/11/2005

No Protests registered.

Gandolfi

Ruggero

Born in Torino

(TO)

on 07/01/1973

- Fiscal Code : GNDRGR73A07L219E

Residence :

Via

Vittorio Emanuele

, 6

- 10020

Riva presso Chieri

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	25/09/2006

No Protests registered.

Casareto

Giorgio

Born in Genova

(GE)

on 06/01/1967

- Fiscal Code : CSRGRG67A06D969K

Residence :

Via

Faenza

, 15/31

- 16100

Genova

(GE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	12/12/2005

No Protests registered.

Murabito

Alessandro

Born in Torino

(TO)

on 06/12/1967

- Fiscal Code : MRBLSN67T06L219E

Residence :

Via

Coppino

, 104

- 55049

Viareggio

(LU)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	31/01/2006

No Protests registered.

COMPANIES CONNECTED TO MEMBERS *

*checkings have been performed on a national scale.

*In this module are listed the companies in which members hold or held positions.

VITELLI PAOLO

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
ALOUETTE SOCIETA' SEMPLICE	Torino (TO) - IT -	80131650014	Partner	Active	Registered
ATLANTIS S.P.A.	Gropparello (PC) - IT -	00256280512	Managing Director	Active	Registered
ATLANTIS S.P.A.	Gropparello (PC) - IT -	00256280512	Director	Active	Registered
AZIMUT BENETTI SERVICE S.R.L. SIGLABILEA.B. SERVICE S.R.L.	Viareggio (LU) - IT -	05838300019	Managing Director	Active	Registered
AZIMUT BENETTI SERVICE S.R.L. SIGLABILEA.B. SERVICE S.R.L.	Viareggio (LU) - IT -	05838300019	Director	Active	Registered
AZIMUT BENETTI SERVICE S.R.L. SIGLABILEA.B. SERVICE S.R.L.	Viareggio (LU) - IT -	05838300019	Sole Director	Dismiss	Registered
AZIMUT BENETTI SERVICE S.R.L. SIGLABILEA.B. SERVICE S.R.L.	Viareggio (LU) - IT -	05838300019	Board Chairman	Active	Registered
AZIMUT RUSSIAN YACHTING CENTERS S.R.L.	Avigliana (TO) - IT -	09179240016	Managing Director	Active	Registered
AZIMUT RUSSIAN YACHTING CENTERS S.R.L.	Avigliana (TO) - IT -	09179240016	Director	Active	Registered
AZIMUT RUSSIAN YACHTING CENTERS S.R.L.	Avigliana (TO) - IT -	09179240016	Board Chairman	Active	Registered
AZIMUT S.P.A.	Viareggio (LU) - IT -	00903230464	Chairman	-	Bankrupt
AZIMUT S.P.A.	Viareggio (LU) - IT -	00903230464	Managing Director	-	Bankrupt
AZIMUT S.P.A.	Viareggio (LU) - IT -	00903230464	Director	-	Bankrupt
BREITHORN S.R.L.	Ayas (AO) - IT -	00535270078	Director	Active	Registered
BREITHORN S.R.L.	Ayas (AO) - IT -	00535270078	Sole Director	Dismiss	Registered
BREITHORN S.R.L.	Ayas (AO) - IT -	00535270078	Board Chairman	Active	Registered
CANDIOLO 90 - SOCIETA' SEMPLICE	Torino (TO) - IT -	96711270015	Partner	Active	Registered
CANDIOLO 90 - SOCIETA' SEMPLICE	Torino (TO) - IT -	96711270015	Partner (in work)	Active	Registered
CANTIERI ING.MOSCHINI - S.P.A.	Fano (PS) - IT -	00197230410	Director	-	Ceased
EURO YACHTING - S.P.A. - IN LIQUIDAZIONE	Torino (TO) - IT -		Liquidator	Active	Liquidated
G.B. *PARAVIA E C. S.P.A. SIGLABILE PARAVIA S.P.A.	Torino (TO) - IT -	00471110015	Director	Active	Registered
G.B. *PARAVIA E C. S.P.A. SIGLABILE PARAVIA S.P.A.	Torino (TO) - IT -	00471110015	Board Chairman	Active	Registered
IMMOBILIARE CASTELDELFINO - S.R.L.	Torino (TO) - IT -	01626070013	Director	Active	Registered
ISTITUTO PIEMONTESE IMMOBILIARE SOCIETA'PER AZIONI CON SIGLA *I.P.I.	Torino (TO) - IT -	00498270016	Director	-	Ceased
L. E. JERETTE SOCIETA' SEMPLICE	Torino (TO) - IT -	96623590013	Partner	Active	Registered
MARINA DI VARAZZE S.R.L.	Avigliana (TO) - IT -	00566360103	Managing Director	Active	Registered
MARINA DI VARAZZE S.R.L.	Avigliana (TO) - IT -	00566360103	Director	Active	Registered
MARINA DI VARAZZE S.R.L.	Avigliana (TO) - IT -	00566360103	Director	Active	Registered
MARINA DI VARAZZE S.R.L.	Avigliana (TO) - IT -	00566360103	Procurator	Active	Registered
MARINA DI VARAZZE S.R.L.	Avigliana (TO) - IT -	00566360103	Board Chairman	Active	Registered
MARINA FIERA DI GENOVA S.P.A.	Genova (GE) - IT -	80010690107	Director	Dismiss	Registered
OSTOURION SOCIETA' SEMPLICE	Torino (TO) - IT -	96700430018	Partner	Dismiss	Registered
PARAVIA BRUNO MONDADORI EDITORI S.P.A. O IN FORMA ABBREVIATA PBM EDITORI S.P.A.	Torino (TO) - IT -	07415430011	Director	Dismiss	Registered
PARAVIA PARTECIPAZIONI S.P.A.	Torino (TO) - IT -	09398990011	Director	Active	Registered
PERVIT - SOCIETA' SEMPLICE	Torino (TO) - IT -	90016730013	Partner	Active	Registered
PINO SOCIETA' SEMPLICE	Torino (TO) - IT -	80131940019	Partner	Active	Registered
PORTA A MARE S.P.A.	Livorno (LI) - IT -	01447950492	Director	Active	Registered
PRINZ BRAU BARI - S.P.A.	Bitonto (BA) - IT -	00256520727	Director	-	Ceased
SOLARIS SOCIETA' SEMPLICE	Torino (TO) - IT -	80177270016	Partner	Active	Registered
UCINA - UNIONE NAZIONALE CANTIERI INDUSTRIE NAUTICHE ED AFFINI	Milano (MI) - IT -	80067350159	Chairman	Dismiss	Ceased
UCINA - UNIONE NAZIONALE CANTIERI INDUSTRIE NAUTICHE ED AFFINI	Milano (MI) - IT -	80067350159	Memb. of the Steering Committee	-	Ceased
VITPER - SOCIETA' SEMPLICE	Torino (TO) - IT -	96799360019	Partner	-	Ceased

SCARZELLO OSVALDO

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
COMAU S.P.A.	Grugliasco (TO) - IT -	02284530017	Procurator	-	Ceased

FANTOZZI MASSIMO

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
AZIMUT BENETTI SERVICE S.R.L. SIGLABILEA.B. SERVICE S.R.L.	Viareggio (LU) - IT -	05838300019	Sole Director	Active	Registered

POERIO VINCENZO

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
ATLANTIS S.P.A.	Gropparello (PC) - IT -	00256280512	Director	Active	Registered
CANTIERI ING.MOSCHINI - S.P.A.	Fano (PS) - IT -	00197230410	Managing Director	-	Ceased
CANTIERI ING.MOSCHINI - S.P.A.	Fano (PS) - IT -	00197230410	Director	-	Ceased
DARSENA ITALIA S.R.L.	Viareggio (LU) - IT -	01596490464	Board Chairman	Active	Registered
LIPI - SOCIETA' PER AZIONI	Livorno (LI) - IT -	00086130499	Managing Director	Active	Registered
LIPI - SOCIETA' PER AZIONI	Livorno (LI) - IT -	00086130499	Board Chairman	Active	Registered
MARINA DI VARAZZE S.R.L.	Avigliana (TO) - IT -	00566360103	Director	Active	Registered
PORTA A MARE S.P.A.	Livorno (LI) - IT -	01447950492	Managing Director	Dismiss	Registered
PORTA A MARE S.P.A.	Livorno (LI) - IT -	01447950492	Director	Active	Registered
SOCIETA' AGRICOLA POGGIO MORI S.R.L.	Sarteano (SI) - IT -	01191030525	Board Chairman	Active	Registered

CAVALLI DIEGO

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
AZIMUT BENETTI SERVICE S.R.L. SIGLABILEA.B. SERVICE S.R.L.	Viareggio (LU) - IT -	05838300019	Managing Director	Dismiss	Registered
AZIMUT BENETTI SERVICE S.R.L. SIGLABILEA.B. SERVICE S.R.L.	Viareggio (LU) - IT -	05838300019	Director	Dismiss	Registered
CALAFATI S.R.L.	Fano (PS) - IT -	00097540413	Director	Active	Registered
FATA AUTOMATION S.P.A. IN LIQUIDAZIONE	Pianezza (TO) - IT -	02398360012	Procurator	-	Liquidated
FATA GROUP S.P.A IN LIQUIDAZIONE	Pianezza (TO) - IT -	09113610159	Procurator	Dismiss	Liquidated
FATA -PROMO ENGINEERING S.P.A.	Pianezza (TO) - IT -	05604840016	Liquidator	-	Ceased
FATA VACUUM TEC S.R.L.	Firenze (FI) - IT -	04561420482	Procurator	-	Ceased
FRASER YACHTS ITALY SOCIETA' A RESPONSABILITA' LIMITATA	Viareggio (LU) - IT -	02002120463	Managing Director	Active	Registered
FRASER YACHTS ITALY SOCIETA' A RESPONSABILITA' LIMITATA	Viareggio (LU) - IT -	02002120463	Director	Active	Registered
GALILEO VACUUM SYSTEMS S.R.L.	Pianezza (TO) - IT -	07390870017	Director	-	Ceased
GALILEO VACUUM TEC S.P.A.	Prato (PO) - IT -	04066010481	Director	-	Ceased
LIPI - SOCIETA' PER AZIONI	Livorno (LI) - IT -	00086130499	Director	Active	Registered
NAUTIC LINE S.R.L.	Avigliana (TO) - IT -	06985780011	Liquidator	-	Ceased
PERVIT - SOCIETA' SEMPLICE	Torino (TO) - IT -	90016730013	Partner (in work)	Active	Registered
ZETA S.R.L.	Avigliana (TO) - IT -	07652980017	Liquidator	-	Ceased

MARTINI FEDERICO

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
AVIO S.P.A.	Torino (TO) - IT -	08618000015	Procurator	Dismiss	Registered
MAGNETI MARELLI S.P.A.	Milano (MI) - IT -	00501280010	Procurator	-	Ceased
P.T.C. - S.R.L.	La Spezia (SP) - IT -	00927630111	Director	-	Ceased
SOCIETA' ELETTRONICA PER L'AUTOMAZIONE S.P.A. SIGLABILE SEPA	Torino (TO) - IT -	05766670011	Director	-	Ceased

MARCONCINI SIMONE

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
S. E R. SUD S.P.A.	Napoli (NA) - IT -	06604540630	Director	-	Ceased
SICOS SRL	Misterbianco (CT) - IT -	03662070873	Director	Dismiss	Ceased

PORRO ERMANNO

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
SANLORENZO S.P.A. IN SIGLA SL S.P.A.	Ameglia (SP) - IT -	00142240464	Attorney with special power	Active	Registered

SBURLATI LUCA

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
FILA EUROPE S.P.A.	Rozzano (MI) - IT -	00198500027	Attorney General	Dismiss	Registered
FILA MOUNTAIN S.R.L.	Biella (BI) - IT -	01681570022	Attorney General	Dismiss	Registered
FORAZ CONSORZIO INTERAZIENDALE PER LA FORMAZIONE PROFESSIONALE	Novara (NO) - IT -	01381570033	Director	Dismiss	Registered

PISCIOTTA SALVATORE FRANCESCO

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
LIPI - SOCIETA' PER AZIONI	Livorno (LI) - IT -	00086130499	Managing Director	Active	Registered
LIPI - SOCIETA' PER AZIONI	Livorno (LI) - IT -	00086130499	Director	Active	Registered

RIVETTI GIOVANNA

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
CALAFATI S.R.L.	Fano (PS) - IT -	00097540413	Director	Active	Registered
CALAFATI S.R.L.	Fano (PS) - IT -	00097540413	Managing Director	Active	Registered
CALAFATI S.R.L.	Fano (PS) - IT -	00097540413	Board Chairman	Active	Registered
CANTIERISTICA S.P.A.	Fano (PS) - IT -	02070920414	Director	Active	Registered
CONSORZIO REGIONALE PER LE IMPRESE NEL SETTORE CANTIERISTICO MARCHIGIANO - S	Fano (PS) - IT -	01117060416	Director	Active	Registered
CONSORZIO REGIONALE PER LE IMPRESE NEL SETTORE CANTIERISTICO MARCHIGIANO - S	Fano (PS) - IT -	01117060416	Memb.of the Executive Committee	Dismiss	Registered
CONSORZIO REGIONALE PER LE IMPRESE NEL SETTORE CANTIERISTICO MARCHIGIANO - S	Fano (PS) - IT -	01117060416	Board Chairman	Dismiss	Registered

CRISTINO LUCA

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
AZIMUT RUSSIAN YACHTING CENTERS S.R.L.	Avigliana (TO) - IT -	09179240016	Director	Active	Registered

CASARETO GIORGIO

Company Style	Legal Seat	Fiscal Code	Position	Position Status	Firm Status
CASARETO GIORGIO	Genova (GE) - IT -	CSRGRG67A06D969K	Proprietor	-	Ceased
FREE SPIRIT S.A.S. DI MAFFEI PATRIZIA E C.	Torino (TO) - IT -	07857480011	Limited Partner	Active	Registered

The indication "REGISTERED" as Firm Status could refere to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.

CAPITAL SHAREHOLDERS

Style / Name	Seat / Address	Fiscal Code	Owned Shares	% of Ownership
Vitelli Paolo	Torino - IT -	VTLPLA47R04L219T	845.406 .Eur	8,66
Vitelli Paolo	Torino - IT -	VTLPLA47R04L219T	6.772.500 .Eur	69,41
Poerio Vincenzo	Livorno - IT -	PROVCN55P19F839F	109.950 .Eur	1,12
IMI INVESTIMENTI S.P.A.	Torino - IT -	97588980017	7.750 .Eur	0,07
Pervit - Societa' Semplice	Torino - IT -	90016730013	332.349 .Eur	3,40
Ldv Holding B.v.			1.154.869 .Eur	11,83
PAGIO SOCIETA' SEMPLICE		97599760010	6.772.500 .Eur	69,41
HOLDING PARTECIPAZIONE NAUTICA - HPN S.R.L.		04342340967	533.175 .Eur	5,46

DIRECT PARTICIPATIONS

Company Style	Legal Seat	Fiscal Code	Owned Shares	% of Ownership	Share Status
Cantieri Ing.moschini - S.p.a.	Fano - IT -	00197230410	296.413 .Eur	70,00	Ceased
Azimut S.p.a.	Viareggio - IT -	00903230464		100,00	Active
Porta A Mare S.p.a.	Livorno - IT -	01447950492	5.250.000 .Eur	99,06	Active
Cantieristica S.p.a.	Fano - IT -	02070920414	30.000 .Eur	22,56	Active
Azimut Benetti Service S.r.l. SiglabileA.b. Service S.r.l.	Viareggio - IT -	05838300019	90.000 .Eur	100,00	Active
Marina Di Varazze S.r.l.	Avigliana - IT -	00566360103	631.271 .Eur	24,04	Active
Associati Tosconautica - S.R.L.	Viareggio - IT -	01369150469	1.136 .Eur	11,00	Active
Azimut Russian Yachting Centers S.r.l.	Avigliana - IT -	09179240016	7.500 .Eur	75,00	Active
Lipi - Societa' Per Azioni	Livorno - IT -	00086130499	416.000 .Eur	49,92	Active
Atlantis S.p.a.	Gropparello - IT -	00256280512	5.000.000 .Eur	100,00	Active
Consorzio Regionale Per Le Imprese Nel SEttore Cantieristico Marchigiano - S	Fano - IT -	01117060416	557 .Eur	1,63	Active
VERSILIA SVILUPPO S.R.L.		01701990465	3.098 .Eur	3,00	Active

STRUCTURE AND COMPANY ACTIVITY

In order to carry out its activities the firm uses the following locations:

Legal and operative seat

in :

Via

Michele Coppino

, 104

- 55049 -

Viareggio

(LU)

- IT -

PHONE

: 0584/384922

Branch

(Yard )

since 20/04/1988

in :

Viale

Dei Mareschi

, 14

- 10051 -

Avigliana

(TO)

- IT -

PHONE

: 011/9367271

Branch

(Factory )

since 27/08/1996

until 01/10/1991

in :

Via

Michele Coppino

, 104

- 55049 -

Viareggio

(LU)

- IT -

PHONE

: 0584/3821

Branch

(Yard )

since 27/08/1996

until 01/07/2002

in :

Via

Xxiv Maggio

, 9

- 55049 -

Viareggio

(LU)

- IT -

PHONE

: 0584/38571

Branch

(Yard )

since 15/10/1998

in :

Lungomare

Mediterraneo

, 2

- 61032 -

Fano

(PS)

- IT -

Branch

(Yard )

since 10/06/1999

in :

Via

Martin Luther King

, 9/11

- 10051 -

Avigliana

(TO)

- IT -

PHONE

: 011/9316600

Branch

(Yard )

since 07/09/1999

in :

Calata

Delle Vele Zona

, 8/9

- 17100 -

Savona

(SV)

- IT -

Branch

(office )

since 21/09/1999

in :

Via

De Nicola

, 5

- 61032 -

Fano

(PS)

- IT -

Branch

(office )

since 27/04/2000

in :

Via

Coppino Ang. Via Del Porto

, 441

- 55049 -

Viareggio

(LU)

- IT -

Branch

(Store )

since 15/11/2001

in :

Via

Michele Coppino

, 339

- 55049 -

Viareggio

(LU)

- IT -

Branch

(Yard )

since 15/11/2001

in :

Viale

Dei Mareschi

, 20/A

- 10051 -

Avigliana

(TO)

- IT -

Branch

(Yard )

since 31/12/2001

in :

Via

Papiria

, 65

- 61032 -

Fano

(PS)

- IT -

Branch

(Yard )

since 04/04/2002

in :

Viale

Dei Mareschi

, 18

- 10051 -

Avigliana

(TO)

- IT -

Branch

(Yard )

since 04/04/2002

in :

Viale

Dei Mareschi

, 14H

- 10051 -

Avigliana

(TO)

- IT -

Branch

(Store )

since 01/07/2002

in :

Via

Dei Peecchi

, 111

- 55049 -

Viareggio

(LU)

- IT -

Branch

(Yard )

since 01/10/2002

in :

Viale

Dei Mareschi

, 14/G

- 10051 -

Avigliana

(TO)

- IT -

Branch

(Store )

since 01/10/2002

in :

Via

Dei Pescatori

, 36

- 55049 -

Viareggio

(LU)

- IT -

Branch

(office )

since 01/10/2002

in :

Via

Del Porto

, 23

- 55049 -

Viareggio

(LU)

- IT -

Branch

(Yard )

since 01/03/2003

in :

Via

Filippo Turati

- 61032 -

Fano

(PS)

- IT -

Branch

(Yard )

since 01/10/2003

in :

Piazza

Mazzini

, 92

- 57100 -

Livorno

(LI)

- IT -

Branch

(Warehouse )

since 27/08/1996

in :

Porto

Turistico Di Lavagna Box113

- 16033 -

Lavagna

(GE)

- IT -

Branch

(Warehouse )

since 01/07/2006

in :

Via

Libeccio

, 48 GHI

- 55049 -

Viareggio

(LU)

- IT -

Branch

(Yard )

since 01/07/2006

in :

Via

Di Montramito

, 78

- 55049 -

Viareggio

(LU)

- IT -

Branch

(Store )

since 01/11/2006

in :

Via

Martin Luther King

, S.N.C.

- 10051 -

Avigliana

(TO)

- IT -

Branch

(office )

since 01/11/2006

in :

Via

Torino

, 2

- 10051 -

Avigliana

(TO)

- IT -

Employees

: 1

Fittings and Equipment

for a value of 27.965.500

Eur

Stocks

for a value of 236.199.000

Eur

Furniture and fittings

for a value of 423.494

Eur

Vehicles

for a value of 134.278

Eur

The firm has a direct commercial organization

Business are addressed to Northern Italy.

The firm operates abroad as importer / exporter.

To purchase foreign products the firm uses the following channels :

- distributors

- direct orders to foreign companies

Export represents more than 50% of the global turnover.

Products abroad are placed by :

- its own sales net-work

- its own agents

Import comes generally from the following nations:

- Francia

- Germania

- Olanda

- Belgio

Export is mainly towards:

- Francia

HISTORICAL INFORMATION AND/OR FIRM'S

STATUS

Changes to the legal form

Former legal form	New legal form	Changement Date
Joint stock company	Limited liability company	21/04/1980
Limited liability company	Joint stock company	28/08/1984

Company Style modifications

Former Style	New Style	Changement Date
Azimut - S.p.A.		07/05/1993
Azimut Holding SpA		27/03/1996

Ex-Members / Ex-Positions

Vitelli

Paolo

Born in Torino

on 04/10/1947

- Fiscal Code : VTLPLA47R04L219T

Residence :

Via

Bezzecca

, 6

- 10100

Torino

(TO)

- IT -

Position

Chairman

Simonetti

Marco

Born in ROMA

on 15/06/1953

- Fiscal Code : SMNMRC53H15H501D

Residence :

Via

DI MURLO

, 20/A

- 19100

La Spezia

(SP)

- IT -

Position

Managing Director

Director

Borrione

Andrea

Born in Milano

on 09/03/1968

- Fiscal Code : BRRNDR68C09F205E

Residence :

Corso

Del Piazzo

, 29

- 13051

Biella

(BI)

- IT -

Position

Procurator

FERLITO

GIORGIO

Born in GENOVA

on 21/06/1959

- Fiscal Code : FRLGRG59H21D969Q

Residence :

Via

PUCCINI

, 344/F

- 55049

Viareggio

(LU)

- IT -

Position

Procurator

Del Zotto

Maria Anna

Born in Camaiore

on 23/01/1957

- Fiscal Code : DLZMNN57A63B455S

Residence :

Via

Coppino

, 104

- 55049

Viareggio

(LU)

- IT -

Position

Procurator

Former seats

Branch

until 28/06/1990

Via

M.COPPINO 104

- 55049

- VIAREGGIO

(LU)

- IT -

Branch

until 24/05/1993

Via

24 MAGGIO

- 55049

- VIAREGGIO

(LU)

- IT -

Branch

since 01/12/1986

until 24/05/1993

Via

DEL BRENTINO

- 55054

- MASSAROSA

(LU)

- IT -

Branch

(Factory )

since 20/04/1988

until 24/05/1993

Via

DEL BRENTINO

- 55054

- MASSAROSA

(LU)

- IT -

Branch

(office )

since 28/06/1990

until 01/10/1991

Corso

MASSIMO D'AZEGLIO

- 10125

- TORINO

(TO)

- IT -

Branch

(Store )

until 15/11/2001

Via

M. COPPINO

- 55049

- VIAREGGIO

(LU)

- IT -

Branch

(office )

since 27/05/1997

until 01/07/2002

Via

COPPINO

- 55049

- VIAREGGIO

(LU)

- IT -

Branch

(Factory )

since 01/08/1997

until 01/09/1999

Via

COPPINO

- 55049

- VIAREGGIO

(LU)

- IT -

Branch

(office )

since 15/07/1997

until 01/07/2002

Corso

MASSIMO D'AZEGLIO

- 10137

- TORINO

(TO)

- IT -

Branch

(Warehouse )

since 15/07/1997

until 01/07/2002

Porto

DI VARAZZE

- 17100

- SAVONA

(SV)

- IT -

Branch

(Store )

since 01/09/1998

until 30/09/2000

Via

INDIPENDENZA

- 55049

- VIAREGGIO

(LU)

- IT -

Branch

(Warehouse )

since 01/03/1999

until 01/12/1999

Via

MONCENISO

- 10050

- SANT'ANTONINO DI SUSA

(TO)

- IT -

Branch

(Store )

since 01/06/1999

until 01/09/1999

Via

PAOLO SAVI

- 55049

- VIAREGGIO

(LU)

- IT -

Branch

(Store )

since 21/10/1999

until 15/11/2001

Via

PAOLO SAVI

- 55049

- VIAREGGIO

(LU)

- IT -

Branch

(Store )

since 22/11/1999

until 01/11/2002

Via

PIOPPO GATTO

- 55054

- MASSAROSA

(LU)

- IT -

Branch

(Yard )

since 15/11/2001

Via

COMPARINI

- 55049

- VIAREGGIO

(LU)

- IT -

Branch

(Yard )

since 15/11/2001

until 01/07/2002

Via

AVOGADRO

- 10051

- AVIGLIANA

(TO)

- IT -

Branch

(Yard )

since 01/07/2002

Via

DELLA SPARTA

- 55045

- PIETRASANTA

(LU)

- IT -

Branch

(Yard )

since 24/02/2003

Zona Industriale

PORT. INT. DARSENA PISA

- 56100

- PISA

(PI)

- IT -

The firm absorved

Cantieri Ing.moschini - S.p.a.

Lungomare

Mediterraneo

, 2

, 61032

, Fano

(PS)

- IT -

Fiscal Code: 00197230410

Date

18/06/2002

The firm absorbed by merging of

Cantieri Ing.moschini - S.p.a.

Lungomare

Mediterraneo

, 2

, 61032

, Fano

(PS)

- IT -

Fiscal Code: 00197230410

Date

18/06/2002

Project of merging by taking over of

Cantieri Ing.moschini - S.p.a.

Lungomare

Mediterraneo

, 2

, 61032

, Fano

(PS)

- IT -

Fiscal Code: 00197230410

Date

Merging/Splitting-up Project :

26/02/2002

The firm absorbed by merging of

AZIMUT S.P.A.

, 55049

, Viareggio

(LU)

- IT -

Date

27/08/1996

The firm absorbed by merging of

Azimut S.p.a.

Via

Coppino

, 104

, 55049

, Viareggio

(LU)

- IT -

Fiscal Code: 00903230464

Date

27/03/1996

PAYMENTS ANALYSIS

The average term of debts to suppliers is normal compared with that of the sector.

PAYMENTS SCORE : - No insolvency

CREDIT REVOLVING

The subject of inquiry has been monitored by our company:

During the last Month : n. 1 times.

During the last 6 Months : n. 7 times.

During the last 12 Months : n. 15 times.

PROTESTS

Protests checking on the subject firm has given a negative result.

DEBT COLLECTION ACTIONS

Against the firm the following actions are registered:

Type	Subject	Expiry Date	Amount	Reason	Result	Closure Date
Credit collection action			868 .Eur

LEGAL PROCEDURES

None reported, standing to the last received edition of the Official Publications.

IMMOVABLES *

*No specific (mortgage/cadastrial registrations) inspections have been requested.

Immovable Type	Value
Real estates	24.940.378 .Eur

NB.: For Capital Companies the value of the Immovables is the one reported in the last available financial documents.

FINANCIAL AND ECONOMICAL ANALYSIS

The company is active since 1996

During the last years, it achieved profits (r.o.e. 19,47% on 2006) with a good increase in turnover (+35,47% in 2006 compared to 2005 and +21,07% in 2005 compared to 2004).

The operating result in 2006 was positive (12,5%) and reflects the field's average.

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,32) and decreasing as against 2005.

Financial debts exposure is under control while the recourse to commercial credit is rather frequent even if it still falls within the sector's average.

The available funds are good.

FINANCIAL DATA