Mauro Pessi will assume the position of CEO, Pirelli Tire North America, effective October 1, 2009. Mr. Pessi has had a long association with Pirelli, most recently having served as VP Sales & Marketing and then CEO, Latin American operations. He rejoins The Pirelli Group after his departure in 2008 to become CEO at Brembo. Mr. Pessi will replace Hugh Pace, who is retiring after having been Chairman and CEO of the Company for nearly 3 years. Mr. Pace will continue his role as Chairman of Pirelli Tire North America through year end 2009.

Pirelli Tire North America designs, develops, manufactures and markets tires for passenger vehicles in both the original equipment and replacement markets as well as markets and distributes tires for motorcycles and motorsports. Located in Rome, Georgia, Pirelli’s Modular Integrated Robotized System (MIRS) employs state-of-the-art technology to manufacture tires for both export and domestic markets. For more information please visit www.us.pirelli.com