UniCredit press release:

UniCredit today announces to have reached an agreement with Cerberus European Investments, LLC. ("Cerberus") in relation to the disposal on non-recourse basis (pro-soluto) of a non performing unsecured consumer and personal loans credit portfolio.

The portfolio consists entirely of Italian loans with a gross book value of approximately €950 million and with a coverage in excess of 90%. The sale is part of UniCredit's on-going activities to sell non-core assets and strengthen its credit profile.

UniCredit anticipates that the transaction to be closed by 28 February 2014 and the impact will be reflected in Q1 2014 balance sheet.