Telecom Italia increases 2.1% on weak volume

ADRS AND DEPOSITORY RECEIPTS

Sponsored Telecom Italia (TI.N),the ADR market's 24th largest telecommunication company by market capitalisation, increased 18.0c (or 2.1%) to close at US$8.87, ending a two-day streak of losses. Compared with the Bank of New York Mellon Composite ADR index, which rose 2.3 points (or 1.9%) on the day, this was a relative price change of 0.2%. The volume was 0.6 times the average trading of 382,590 shares.

RELATIVE VALUATION INDICATORS [RVI] TECHNICALS

- The price crashed 11.1% in the last month.

- Compared with the Bank of New York Mellon Composite ADR index which fell 2.3% for the month, this represented a relative price decrease of -8.9% for the month.

- Compared with the Bank of New York Mellon Composite ADR index which rose 0.4% for the week, this represented a relative price increase of 1.1% for the week.

Beta: The Beta of this ADR is 1.3. A Beta greater than 1 suggests this is a high risk, high return ADR with volatility greater than that of the market.

Volume: there were 225,297 shares worth US$2 million traded.

- The present value of US$1,000 (PV$1000) invested one year ago is US$760 [vs US$1,051 for the Bank of New York Mellon Composite ADR index], for a capital loss of US$240. The total return to shareholders for 1 year is -24.0%.

PV$10001-week1-month1-yearTI.NUS$1,015US$889US$760

DescriptionValueRank In MarketMCapUS$11.9 billionIn 2nd Quartile

SHAREHOLDER PATTERN

- Top 29 Institutional Shareholders of Telecom Italia(TI.N) hold 69,264,616 shares (or 5.19%).

- Brandes Investment Partners Lp was the largest institutional holder??with reported holdings of 14,856,795??shares as at January 30, 2012.

COMPANY ANNOUNCEMENTS

The last 7 company announcements are:

November 16: Telecom Italia: clarification on press rumours

[Company Release] With reference to press rumours surrounding the spin-off of the access network, Telecom Italia clarifies that the management and the advisors are still carrying out the analyses and in-depth examinations whose results will be presented to the Board of
Directors meeting on 6 December. Source: Company Website

November 13: Telecom Italia: next-generation fibre-optic network arrives in Pescara

[Company Release] Over the next few months, the people of Pescara will get access to ultra-broadband services at connection speeds ranging from a minimum 30 to a maximum 60-80 megabits per secondIn agreement with the Municipality of Pescara, new low environmental impact excavation techniques to be used for the new infrastructure to minimize inconvenience for citizens and businessesThis initiative is part of Telecom Italia's next generation fibre-optic network national development plan using fibre to the cabinet technology, which is being rolled out to 100 cities by the end of 2014Telecom Italia is beginning to roll out its next generation fibre-optic network (NGAN) in Pescara, offering innovative services to consumers and enterprise.

November 13: Telecom Italia awards 20 enterprise Grants to the winners of Working Capital 2012

[Company Release] Grants awarded in Rome to the top 20 digital, green and Internet projects from among 1,100 of this year's candidates in the presence of CEO Marco Patuano and international guestsThe Rome event entitled "Si Puo Fare - Il coraggio di crescere" (Yes We Can - The Courage to Grow) today concluded Working Capital 2012, the Telecom Italia scheme designed to reward the most promising business initiatives in the Web 2.0 arena and the new frontiers of the Internet.

November 12: Fondazione Telecom Italia: the history of Italian Telecommunications on the web

[Company Release] Presented in Turin the new portal of the Telecom Italia Historical Archive. Over 1000 images, 200 documents and more than 40 film clips from the early 1900's to the present day.Present at the event the Chairman of Fondazione Telecom Italia, Franco Bernabe, the Mayor of Turin, Piero Fassino, and the director of the MIBAC Archives, Rossana Rummo.Fondazione Telecom Italia today presented the new web portal of the Telecom Italia Historical Archive.

November 12: Telecom Italia: clarification on rumours about Sawiris offer

[Company Release] Regarding press rumours surrounding an interest by Mr. Naguib Sawiris to invest in Telecom Italia, upon request by Consob Telecom Italia clarifies the following:In the past days the Company has received communication from Mr. Naguib Sawiris about an interest in investing in Telecom Italia SpA's sharecapital through underwriting of new stock issuing.

October 31: Telecom Italia and Telefonica: agreement to run trials on technological solutions for the management of data relating to
individuals and objects connected in a "Smart City" context

[Company Release] Agreement envisages the development of new pilot models to offer leading-edge services to citizens and government, developed under the auspices of the Italian ICT technology centre in Trento of which Telecom Italia is an industrial partnerTelecom Italia and Telefonica have signed a technological agreement to initiate two trial projects that will offer new services to citizens and government and will draw upon new models participated by users to share and aggregate data relating to individuals and objects connected in a "Smart City" context.

October 31: Telecom Italia completes the sale of Matrix to Libero (Weather Group)

[Company Release] Positive impact on the Group's financial position for 88 million eurosTelecom Italia has completed the sale of its fully owned company Matrix to Libero, controlled by Weather Investment II S.a.r.l.The deal will have a positive impact on the Group's deleverage at year-end for 88 million euros.Matrix, with its Virgilio portal, is a company operating in the Internet sector and one of Italy's leading digital advertising players at local and national level.
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