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Banca Commerciale Italiana

We believe that the proposed branch will foster the al- ready important business relations existing not only between Hong Kong and Italy but also between Hong Kong and the major finance centres all over the world where our international network is al- ready present with branches and representative offices.

It goes

without saying that the activities of our proposed branch will strictly conform at all times to the regulations of your country's authorities.

We should like to take this opportunity to inform you that we have entrusted Mr. Gianfilippo Accardo, at present our rep resentative in Sydney, with the task of carrying out all the for- malities which are necessary for the opening of our proposed branch in Hong Kong.

Mr. Aldo Morante, who is our representative in Hong Kong and Peking, will maintain a "Liaison Office" in your country with the aim of supporting business relations between our Hong Kong branch and the People's Republic of China.

We trust that the outcome of this application will be favourable and thank you in advance for your cooperation and atten tion in this matter.

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Yours faithfully,

BANCA COMMERCIALE ITALIANA

Head Office

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