Merloni Board Confirms 2003 Financial Statements May 1, 2004

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The board of directors of Italian appliance maker Merloni Elettrodomestici announced that it has reviewed the consolidated financial statements for 2003, which closed with net profits of 126 million euros (approx. U.S. $155.1 million), up 16 percent on 108 million euros in 2002.

Merloni also said its board will recommend to the shareholders a dividend payout of 0.361 euros per ordinary share, an increase of 12.1 percent on the previous year (0.322 euros) and of 0.379 euros per savings share (compared to 0.34 euros the previous year), payable as of May 27, 2004.

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