DECISIONS OF THE CNMI'S BOARD OF DIRECTORS • Camera Nazionale della Moda Italiana

DECISIONS OF THE CNMI'S BOARD OF DIRECTORS

The Board of Directors of Camera Nazionale della Moda Italiana which reunited yesterday, took note, with great satisfaction, of the provisional balance 2005 and it examined the 2006 budget of the Association and of its controlled company. The consolidated budget of both CNMI and Camera Moda Srl features a result which is definitely better compared to the 2005 budget approved by the Assembly of Members on the 28th of April 2005 and it evidences a budget surplus of Euro 550.000,00 compared to the budget forecast of Euro 93.000,00. The results have been achieved thanks to the concrete contribution of the Chamber of Commerce Industry Handicraft and Agriculture of Milan, to the Members of CNMI who have subscribed the increase of the association fees and to a careful and rigorous managing of the CNMI. Full approval has been expressed to the project of the new location which will host Milano Moda Donna starting from September 2006. It was found in fact a solution which will allow the move from the historical location of Piazza VI Febbraio to the Congress Centre of Fiera Milano International