Exhibit 45


                        JOINT PRESS RELEASE PIRELLI & C.
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                           BANCA INTESA AND UNICREDITO
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Milan, December 18, 2003 - In connection with the subscription of the portion
allocated from the first tranche of the capital increase of Olimpia SpA, decided
upon by the latter's Shareholders' Meeting last November 13, Pirelli & C., Banca
Intesa and UniCredito Italiano report that they decided upon an amendment of the
agreement signed September 14, 2001, which contained, inter alia, certain
clauses that gave Banca Intesa and UniCredito Italiano the right to assign their
holding in Olimpia ("put") to Pirelli.

In particular, concerning the possible assignment to Pirelli & C. by Banca
Intesa and/or UniCredito Italiano, exercising the put, of the shares issued for
Olimpia's capital increase decided last November, it has been approved that,
while the minimum price already agreed upon in the September 14, 2001 agreement
is still valid, covering the amount of said increase subscribed by Banco Intesa
and UniCredito Italiano, minus dividends possibly received, the maximum price
set forth therein no longer applies, unlike that set forth in the previous
agreement of September 14, 2001.

The full text of the amendment instrument is enclosed.