Dear Shareholder,

As with other issues, the May edition of Zoom provides analysis of various topics of a financial, business and technological nature.

In our “Let’s talk about…” column, we discuss SRI (Socially Responsible Investing), i.e. investment funds which privilege businesses that orient their activities towards sustainable development. As for Telecom Italia’s commercial offers, special attention is paid to Alice, our brand name that combines broadband web surfing (with ADSL), telephony (via VOIP, Voice Over Internet Protocol) and television (with IPTV). We also focus on the convergences made possible with UNICA, our latest offer which marks an important step towards what has come to be known as “Quadruple Play”. This dual mode technology allows users to make fixed-line or mobile calls using the same handset (UNICO) while at the same time surfing the web and accessing Alice Home TV contents.

Furthermore, to throw greater light onto Group activity abroad, TI supplies an information sheet on the most significant fixed broadband offers in Europe and mobile offers in Brazil.

In our Technology section, we appraise Telemedicine,a health monitoring system (still in experimental phase) based on cutting edge communication technologies and one that is capable of providing effective remote medical treatment. Finally, we share our reflections on the breakthroughs that have been influencing Internet trends over the last few years and outline some possible future scenarios.

Sustainable development is a form of growth (including economic improvement) which, by preserving the quality and quantity of the natural heritage and nature reserves, does not compromise the possibility of future generations enjoying the benefits of progress.
For businesses, therefore, the theme of sustainability transmutes into a commitment to achieve the highest possible profit margins while at the same time respecting current laws and regulations and defining strategies that are sensitive to ecological and social issues.
Many people might not know, however, that, if these companies are listed on the stock exchange, it is possible to invest in them by means of mutual funds. The latter have taken on the name of “ethical funds” precisely because of this underlying moral feature.