Form, content and applicable accounting standards

The half-year financial report of the Ansaldo STS Group at 30 June 2011 has been prepared in compliance with Art. 154 ter para. 5 of Legislative Decree no. 58/98 - T.U.F. - and subsequent integrations and amendments. This half-year report has been drawn up in accordance with IAS 34 “Interim Financial Reporting”, issued by the International Accounting Standard Board(IASB).
The explanatory notes, in accordance with IAS 34, are reported in condensed form and do not include all the information required for the preparation of the annual report, being referred exclusively to those components, which by amount, composition or variations result to be fundamental to the comprehension of the financial position of the Group. Therefore, this half-year report should be read together with the 2010 consolidated annual report.
Similarly, the Balance Sheet and the Income Statement are published in condensed form when compared with the annual report. The reconciliation with the year-end statements is given in the related explanatory notes, for the items presented in the condensed statements.
The accounting standards and criteria used in the preparation of this half-year report are the same as used in the preparation of the consolidated annual report at 31 December 2010 and of the half-year report at 30 June 2010, except for what outlined in Paragraph 8.2.2.

All figures are in thousands of euros unless otherwise indicated.

This condensed consolidated half-year financial statements are subject to a review by PricewaterhouseCoopers SpA.