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LOCAT SV S.R.L.

SERIES 2011	CLASS A NOTES	CLASS B NOTES
ORIGINAL BALANCE	3.502.500.000,00	1.648.322.513,60*
CURRENCY	Euro	Euro
FINAL MATURITY DATE	dec - 2038	dec - 2038
LISTING	ISE	-
ISIN CODE	IT0004690753	IT0004690746
COMMON CODE	059233572	-
CLEARING	MT	MT
PRINCIPAL PAYMENTS	Interest Payment Date 12 September 2012	Interest Payment Date 12 September 2012
INDEXATION	3 month Eurbor	3 month Eurbor
SPREAD	1,35%	2%
RATING S&P'S (INITIAL)	AAA	NR
RATING S&P'S (CURRENT)	AAA	NR
RATING DBRS (INITIAL)	AAA	NR
RATING DBRS (CURRENT)	AAA	NR

ISSUER:	LOCAT SV S.R.L. – SERIE 2011
ISSUE DATE:	11 February 2011
JOINT LEAD MANAGERS AND JOINT BOOKRUNNERS:	UniCredit Bank AG - London Branch
ARRANGER:	UniCredit Bank AG - London Branch
UNDERLYING ASSETS FOR THE NOTES:	Lease receivables
ORIGINATOR AND SERVICER:	UniCredit Leasing S.p.A.
INTEREST PAYMENT DATES:	means (i) prior the service of a Trigger Notice, the twelfth day of June 2011 and, thereafter, the twelfth day of June, September, December and March of each year, or if such date is not a Business Day, the immediately following Business Day; and (ii) following the service of a Trigger Notice, the 12th day of each month, or if such date is not a Business Day, the immediately following Business Day
INTEREST PERIOD:	means each period from (and including) an Interest Payment Date to (but excluding) the next following Interest Payment Date, provided that the first Interest Period (the "Initial Interest Period") shall begin on (and include) the Issue Date and end on (but exclude) the first Interest Payment Date falling in June 2011
INTEREST CALCULATION:	ACTUAL/360
COMPUTATION AGENT:	Securitisation Services S.p.A.
CORPORATE SERVICER:	UniCredit Credit Management Bank S.p.A.
ACCOUNT BANK AND PRINCIPAL PAYING AGENT:	BNP Paribas Securities Services Milan Branch
CASH MANAGER:	BNP PARIBAS Asset Management Società di Gestione del Risparmio S.p.A.
REPRESENTATIVE OF THE NOTEHOLDERS:	Securitisation Services S.p.A.
HEDGING COUNTERPARTY:	UniCredit S.p.A.
QUOTAHOLDER:	SVM Securitisation Vehicles Management S.r.l.
SUBORDINATED LOAN PROVIDER:	UniCredit Leasing S.p.A.

*Pursuant to the new article 122(a) of CRD, as implemented into Italian law by the Bank of Italy Circular No. 263 of 27 December 2006 ("Nuove disposizioni di vigilanza prudenziale per le banche" – as amended by the 7th revision of 28 January 2011) the Originator has undertaken to retain all the Series 2011 Class B Notes which, together with the Subordinated Loan, represents currently 37% of the portfolio at the Issue Date, and therefore is more than 5% of the net economic interest in the Securitisation, and to disclose that it continues to fulfil the obligation to maintain such net economic interest in the Securitisation at least on a quarterly basis and at any point where the requirement is breached. Furthermore, Unicredit Leasing S.p.a, in its capacity as Originator, specifies that the informations to provide an adequate disclosure in accordance with article 122(a) of CRD will be included: a) in the Investor’s Report provided by Computation Agent and available on the Computation Agent’s web site on www.securitisation-services.com and in the archive of this web page, with reference to the collateral information, and b) in Bloomberg page associated to the current issue, with reference to the cash flow and interest rate of the notes. Moreover, with reference to additional informations the Originator will evaluate, from time to time, the implementation on UniCredit Leasing S.p.A. web site or in the Investor Report.