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MAY 16, 2001

Montezemolo remains at Ferrari

FERRARI president Luca di Montezemolo has declined an offer of a position in the Italian government to remain at the helm of the Italian car giants.

New Italian prime minister Silvio Berlusconi had offered Montezemolo an undefined position in his office two weeks ago, but after receiving a plea from Ferrari fans on Tuesday the Ferrari boss decided to remain in his current position.

"Today I spoke with Silvio Berlusconi and I informed him of all the heartfelt requests coming first and foremost from the people at Ferrari and from so many of its supporters," said Montezemolo in a statement.

Montezemolo also added that he had received an "invitation from a major part of the media, who have proposed that I should make myself available to lead the Editors Federation.

He continued: "My name was today put forward by the Presidential Committee of the FIEG (Federazione Italiana Editori Giornali).

"Silvio Berlusconi has understood and appreciated the relevance of such reasons, which means I am unable to follow up the intention of being part of his Government."