Contact: Deborah Harrington
Deloitte Services LP
Director, U.S. National Public Relations
+1 917 923-0286

Contact: Oriana Pound
Deloitte Touche Tohmatsu
+44 20 7303 5055

Milan, January 9, 2004 — Following media reports that two partners from Deloitte Italy, Adolfo Mamoli and Giuseppe Rovelli, will be called for questioning by the magistrates investigating the Parmalat matter, Deloitte Italy makes the following statement:

We will of course continue to co-operate fully with the authorities to establish the facts of the matter, and to help them separate these from rumour and speculation.  

Deloitte will also pursue all appropriate legal remedies for injury to the reputation and business of our people, the Italian practice and the global organisation.

Deloitte Italy believes it behaved properly throughout and in accordance with the standards in force in Italy at the time.  It is important to reiterate that the Italian practice issued a very carefully considered mid-year review report on 31st October drawing attention to certain critical issues in Parmalat's financial statements.

About Deloitte
Deloitte Touche Tohmatsu is an organization of member firms devoted to excellence in providing professional services and advice. We are focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, our member firms (including their affiliates) deliver services in four professional areas: audit, tax, financial advisory services and consulting. They serve over one-half of the world’s largest companies, as well as large national enterprises, public institutions, and successful, fast-growing global growth companies.

Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. The services described herein are provided by the member firms and not by the Deloitte Touche Tohmatsu Verein.  For regulatory and other reasons certain member firms do not provide services in all four professional areas listed above. For more information, please visit Deloitte's Web site at www.deloitte.com.