AVIGLIANA, 5 DECEMBER 2007 - The Awards Ceremony for the “Champions of Growth” enterprises, companies that make the “Made in Italy” famous throughout the world by combining growth and profitability, was held Monday in the Sala Giunta at Confindustria (Italian Entrepreneurs Federation) headquarters.

In order to give a response to questions as to what strategies ensure “profitable growth” and how many medium-sized Italian firms succeed in combining growth and profitability, Confindustria launched an important project on “champions of growth” with the collaboration
of the CERVED Group, the McKinsey company and Milan’s Bocconi University.

The survey, both qualitative and quantitative in nature, was centered on the 490 mediumsized Italian manufacturing companies with a turnover ranging between € 100 million and 1 billion in the period 2001 to 2006. Next, 197 enterprises with a growth rate over 7% were selected, 190 of which chalked up better results than their sectors of reference. Of these 197
enterprises, 36 were chosen, best performers with earnings over 5% and significant, consistent growth in the years considered (2001-2006). The eleven companies out of the 36 that added to the indicated parameters an average annual growth rate over the five years higher than 15% were considered Champions of Growth.

Azimut-Benetti Group President Paolo Vitelli received from Confindustria President Luca Cordero di Montezemolo the special award for Best Performer, reserved to the best of the eleven selected companies, thanks to a compound annual growth rate (CAGR) for the Azimut-Benetti Group of more than 26% and a profitability higher than an average 15% per year.
The special award was assigned by a Committee made up of experts from Confindustria, the CERVED Group, the McKinsey company and Bocconi University that, in addition to its remarkable economic performance, pointed to further elements of excellence in the Group’s all-round focus on innovation, strong presence on international markets, the constant raising
of its growth aspirations, particularly open governance, and a strong, passionate management team incentivized with strongly meritocratic criteria.

“True entrepreneurs,” said Confindustria President Luca Cordero di Montezemolo, “who take on the international markets every day, seeking innovation in all directions.” “This award recognizes our choice of innovating and constantly reinvesting profits in the company’s growth,” said Azimut-Benetti Group President Paolo Vitelli. “Azimut-Benetti is a champion of growth in the last five years and it is also the world’s largest private group in
luxury yachting, a world leader in the production of mega-yachts manufacturer. This is a challenge won with passion but one that does not represent a point of arrival but rather marks the start of a new way ahead of growth and attainment of new future achievements.”

The Azimut-Benetti Group, which includes the prestigious brands Azimut, Benetti and Atlantis, each aimed at a distinct segment of the yachting market, and Fraser Yachts, a leading brand in the services sector, registered a Value of Production in excess of € 800 million in 2007, while the Group’s order portfolio (yachts and mega-yachts) as of 31 August 2007 had reached a value of more than € 1.5 billion.