Net profit for the year confirmed at €10 billion



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Proposed a dividend per share of €1.30
San Donato Milanese, March 14, 2008 - Eni's Board of Directors today approved Eni's 2007 consolidated financial statements, which reported net profit of €10,011 million1 and draft financial statements of the parent company Eni SpA, which reported net profit of €6,600 million. The Board of Directors resolved to propose to the Annual Shareholders' Meeting the distribution of a dividend2 amounting to €1.30 per share (pay-out 47%). Taking account of an interim dividend of €0.60 per share paid in October 2007, a balance amounting to €0.70 per share (€1.40 per ADR3) will be paid on May 22, 2008 to all outstanding shares on the register at the ex-dividend date of May 19, 2008.

Eni's consolidated financial statements and the draft financial statements of the parent company were submitted to the Board of Statutory Auditors and to Eni's external auditors. Enclosed are the consolidated profit and loss account and balance sheet and the profit and loss account and balance sheet of the parent company. The Board of Directors also approved Eni's 2007 Sustainability Report in which the Company illustrates its commitment to sustainable development in line with international best practice.

Convening of the Annual Shareholders' Meeting on April 22 and 29, 2008 to approve the 2007 financial statements
In addition to the approval of the 2007 financial statements of the parent company and of the dividend proposal, the Annual Shareholders' Meeting is convened on April 22 and 29, 2008, on first and second call respectively, to approve the following:

Financial statements of AgipFuel SpA and Praoil Oleodotti Italiani SpA: the Board of Directors proposes the approval of 2007 financial statements of these Eni subsidiaries that were merged into the parent company, effective January 1, 2008. Reported net profit, amounting to €900,816 and €14,818,016 respectively, is proposed to be attributed to retained earnings.

Share buy-back: the Board of Directors intends to propose the continuation of the share buy back program for a period of 18 months after the Shareholders' Meeting for a maximum amount of €7.4 billion, equating to 400 million shares or approximately 9.9866% of the issued share capital. Both limits will take account of treasury shares on the Shareholders' Meeting date.

From the inception of the share buy-back programme to March 13, 2008, Eni has repurchased a total of 369.7 million of its own shares, equal to 9.23% of issued share capital, for a total cost of €6,352 million (representing an average cost of €17.182 per share), equal to 85.8% of the maximum of €7.4 billion authorized by the Annual Shareholders' Meeting of May 24, 2007.

Convening of the Shareholders' Meeting on June 9 and 10, 2008 for the renewal of the corporate bodies
The Board of Directors, with the majority of its members approving the resolution and with the consent of the Board of Statutory Auditors, convened the Shareholders' Meeting on June 9 and 10, 2008, on first and second call respectively to appoint corporate bodies, proposing to set the number of Directors to be appointed by the Shareholders' Meeting at nine.

Convening of the Noteholders' Meeting
Eni's Board of Director also convened the Meeting of Noteholders of the Eni's bond "Eni SpA- Euro Medium Term Notes Third Issuance" on April 21, 22 and 28, 2008, on first, second and third call respectively to appoint the joint representative of the Noteholders, and to resolve on term and emolument of his/her office.

The report on Corporate Governance is available at Eni headquarter and on Eni's website, www.eni.it. This report provides information about the adoption of the corporate governance code endorsed by the Italian Stock Exchange authority (Borsa Italiana SpA) and adherence to relevant commitments.

Eni's 2007 Annual Report is available on Eni's website www.eni.it, in the section Publications, Reports.

The convening notice and the Board of Directors report on the proposals to the Shareholders' Meeting convened on April 22, 2008 will be available on Eni's website www.eni.it, by March 21, 2008.

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Financial statements and information herewith set forth are extracted from 2007 consolidated annual report and the parent company's financial statements (available only in the Italian version) which have been disseminated along with this press release. The 2007 consolidated annual report and Eni SpA financial statements include the certification rendered by management pursuant to Article 154-bis, paragraph 5 of Legislative Decree No. 58/1998, in accordance with the format set by the Italian market regulatory body (CONSOB).

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Contacts
E-mail: segreteriasocietaria.azionisti@eni.it
Investor Relations
E-mail: investor.relations@eni.it
Tel.: +39 0252051651 - Fax: +39 0252031929

Eni Press Office:
Casella e-mail: ufficio.stampa@eni.it
Tel.: +39 0252031287 - +39 0659822040

* * *
Eni
Società per Azioni, Rome, Piazzale Enrico Mattei, 1
Capital Stock: euro 4,005,358,876 fully paid
Registro Imprese di Roma, c. f. 00484960588
Tel.: +39 0659821 - Fax: +39 0659822141

This press release is also available on the Eni web site: www.eni.it.

About Eni
Eni is one of the leading integrated energy companies in the world operating in the oil and gas, power generation, petrochemicals,
engineering and construction industries. Eni is present in 70 countries and is Italy's largest company by market capitalization.

1) Attributable to Eni shareholders. This result is the same as the preliminary results announced in February 2008; for details see Eni's Press Release of February 15,2008.

2) As a consequence of new tax laws in force from January 1, 2004, dividends are not entitled to a tax credit and, depending on the receiver, are subject to a withdrawal tax on distribution or are partially cumulated to the receiver's taxable income.

3) On ADR payment date, JPMorgan Chase Bank, N.A. will pay the dividend less the entire amount of a withholding tax under Italian law (currently 27%) to all Depository Trust Company Participants, representing payment of Eni SpA's interim dividend.



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