52-Week Performance Chart

From time to time, BNY may pay a rebate to brokers that deposit shares with BNY for the issuance of unsponsored depositary receipts (DRs) or global depositary notes. BNY assumes no obligation or responsibility, and expressly disclaims any liability arising out of, or relating to, such rebates, including without limitation whether the rebate or any portion of it is passed on to the beneficial holders by the brokers.
Unsponsored DRs may be issued by multiple depositary banks servicing a particular DR program. Consequently, as a result of Depository Trust & Clearing Corporation (“DTCC”) practice, the actual cash distribution fees charged may differ from the BNY fees detailed in the fee schedule as fees will be charged in accordance with the fee schedule of the depositary bank that is considered to be the “First Filer”. The fees to be charged for any particular unsponsored cash distribution will be disclosed on the event announcement published by the “First Filer”. BNY takes no responsibility for the level of fees charged by any other depositary bank. The “First Filer” is the depositary bank that filed the first Form F-6 for a program with the U.S. Securities and Exchange Commission (“SEC”). In the event the actual “First Filer” does not have DRs outstanding for a program, the next depositary bank who filed a
Form F-6 with the SEC and has DRs outstanding will be deemed to be the First Filer for these purposes.

DR Details

DR Symbol	SNMRY
CUSIP	78460A106
DR Venue	OTC
DR ISIN	US78460A1060
Ratio DR:ORD	1:2
First Filer	BK
Underlying ISIN	IT0003153415
Underlying SEDOL	7251470
Country	Italy
Effective Date	Oct 22, 2008
Depositary	BK, CIT, DB, JPMC (Unsponsored)
Industry	Gas,H20&Multiutility

Snam is engaged in the construction and integrated management of natural gas infrastructure. It manages the gas systems, develops infrastructure and provides integrated services for the market. The Company is also engaged in natural gas transportation, storage, regasification and urban distribution. The Company manages a national transportation network, including eight storage facilities, one regasification plant and a local distribution network.

Data provided by Mergent, Inc.

Fee Type in US Dollar per ADS	Deposit Agreement
Annual Depositary Service	up to $0.1000
Cancellation	up to $0.1000
Cash Distribution	up to $0.1000
Issuance	up to $0.1000
Registrar Inspection	up to $0.0000
Cash Distribution(Other)	up to $0.1000
Rights - Issuance	up to $0.1000
Stock Dividend	up to $0.1000
Transfer	up to $0.0000
Cable Fee per Cancellation	$17.5000

Monthly Trading Summary

Month	Month End DR Close Price	DR Trading Volume	Avg Day DR Trading Volume
Apr.25	11.41	816,782	38,894
Mar.25	10.44	720,664	34,317
Feb.25	9.54	759,653	39,982

Depositary Receipts Foreign Exchange Pricing Disclosure

Snam S.P.A. Homepage

Societe Generale Securities Services S.p.A./TWOSITMM