MILAN, Italy -- The Board of directors of Italtel, chaired by Roberto Quarta, appointed Mauro Righetti as corporate chief executive officer. Righetti joined Italtel in October 2003 as general manager and member of the board of directors. During the same meeting, Italtel's Board of Directors also appointed CFO Rinaldo Tonsi as general manager with responsibilities for Administration, Finance, Control and Services and Activities supporting Operations. With this appointment, Tonsi, CFO since November 1999 and a Board member since April 2004, reports to the chief executive officer.

Mauro Righetti has a long track record with leading international ICT corporations, and significant entrepreneurial experience. He joined Olivetti in 1970, and took on greater responsibilities as his career advanced, until he was appointed director of the industrial area. In 1993 he took up the challenge of founding and directing Oracle Italia, with positive results in terms of turnover and development. Between 1995 and 1997, he was vice president of Oracle Sud Europa with area responsibilities for France, Italy, Spain and Portugal, representing a volume of business of more than 500 million dollars. In 1998, he founded Smart Venture Partners, a hi-tech venture capital firm which has made many investments in Italy and within the US market.

"I am certain that, under the guidance of Mauro Righetti, the company will be successful in its new development stage, and in its efforts toward achieving the expansion and value growth objectives that the shareholders expect," commented Italtel chairman, Roberto Quarta. "The company is currently engaged in a process of expansion to strengthen its leadership position in the market of next generation networks and to ensure growth within foreign markets. The task is a complex one, and one in which Mauro Righetti's experience and managerial skills may well play a vital part."

Italtel SpA