PRESS RELEASE

Turin, 23 December 2010

Notice pursuant to article 2.6.2 No. 17 of the Rules of the markets organised and managed by Borsa Italiana.

On today's date, the rating company Standard & Poor's decided to change Seat's Corporate rating from B to B- and, therefore, to change the rating of the bond issued by Lighthouse and guaranteed by Seat from B to B- and the rating of the Senior Debt from B+ to B. The company's outlook remains Negative.

The company wishes to inform that available cash and cash equivalents, as well as current credit lines — as yet undrawn — will make substantially irrelevant the effects of the reduction of the revolving securitisation program of trade receivables caused by the S&P's new rating.

(For more complete information, please find attached the Standard&Poor's press release)

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Seat Pagine Gialle Communications
Tel. +39.011.435.3030 – fax +39.011.435.3040
Comunicazione.stampa@seat.it  

Investor Relations Seat Pagine Gialle +39.011.435.2600  
Investor.relations@seat.it  

Seat Pagine Gialle S.p.A. Legal and Corporate Affairs 
ufficio.societario@seat.it