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Filippo Simonetti Resigns as CFO of the Natuzzi Group

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Natuzzi S.p.A., a leading manufacturer of leather-upholstered furniture, announced that Filippo Simonetti has resigned as CFO, effective March 22, 2008. The Company named Mr. Salvatore Gaipa as new Chief Financial Officer. Mr. Gaipa, who is 55 years old, has gained considerable expertise in Accounting and Finance in multinational contests such as “Snamprogetti – ENI Group” (until 1988) and “Panasonic Italia” (until 2005) where he served as CFO with supervising responsibilities also in Human Resources, Information Technology and Internal control. Subsequently, he worked as business consultant. ABOUT NATUZZI S.P.A.: Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs and manufactures a broad collection of leather-upholstered residential furniture. Italy’s largest furniture manufacturer, Natuzzi is the global leader in the leather segment, exporting its innovative, high-quality sofas and armchairs to 123 markets on 5 continents. Since 1990, Natuzzi has sold its furnishings in Italy through the popular Divani & Divani by Natuzzi chain of 123 stores, and 1 Natuzzi Store. Outside Italy, the Group sells to various furniture retailers, as well as through 158 licensed Divani & Divani by Natuzzi and Natuzzi Stores.

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