Chairman's message

LUIGI ROTH

Dear Terna Shareholders and Stakeholders, the 2009 financial statements confirm our role as an infrastructural company focused on development: from higher investments to increased relations based on trust with our stakeholders.

The national electricity grid that Terna owns, develops and manages represents an actual driver of our country’s economic and industrial growth process, but also a sign of possible integration among development, environment, territory and community. Underlying this integration is the Company’s top priority objective: building and maintaining over time a relationship based on trust with all our stakeholders not only in our principal activity, electricity transmission, but also in the great challenge of responsibility, of creating value and culture and in relations with the community.

In 2009 many kilometers of new power lines were completed and 18 memorandums of understanding were signed with Regional Authorities for modernising the grid. For Terna development does not only mean adding infrastructures throughout the territory. As in the case of Tuscany which was the first location in the world to install the pylons designed by the architect Norman Foster, the ambition is also that of contributing to defining a new industrial aesthetics based on the value of the most harmonious “installation” of infrastructures throughout the territory. For this reason, we also launched the international contest “Pylons of the Future” for creating new pylons capable of blending technology, design and environmental culture.

Through the Terna Prize which successfully reached its second edition, we consolidated a great project aimed at promoting Italian contemporary art and culture in collaboration with the Ministry for Cultural Heritage and Activities.

The Company’s strategic choice of sustainability is expressed also towards its internal stakeholders. The new Head Office in Rome represents a modern office complex that is operational, sustainable and technological also having a strong value of corporate identity. We enriched our training programme and internal communication by implementing initiatives aimed at facilitating information exchange and at consolidating our corporate identity.

Terna has chosen to be a company of the future that looks ahead by blending functionality, sustainability, safety and technological progress. 2009 economic results stand to witness the validity of our management approach that is integrated and based on values. Terna has undertaken a responsible commitment towards our country which the Company has been coherently pursuing since 2005. This is our way of creating value for shareholders, for stakeholders and for the entire community. This is our way of wanting to be among the first grid operators in the world.

Firma Roth