UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Industrie Natuzzi SPA
(Name of Issuer)
Ordinary Shares
(Title of Class of Securities)
456478106
(CUSIP Number)
Robert Lynch, Esq. with copies to:
Managing Director Donald P. Madden, Esq.
Deutsche Bank White & Case
North America 1155 Avenue of the
Holding Corp. Americas
31 West 52nd Street New York, NY 10036
New York, NY 10019 212-819-8800
212-474-8600
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
August 1, 1995
____________________________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box ( ).
<PAGE>
SCHEDULE 13D
CUSIP No. Page 2 of ___ Pages
[________]
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Deutsche Bank AG
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A (a) ( )
GROUP (b) ( )
3 SEC USE ONLY
4 SOURCE OF FUNDS
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Federal Republic of Germany
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY 0
OWNED 8 SHARED VOTING POWER
BY EACH REPORTING 4,858,137
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
10 SHARED DISPOSITIVE POWER
6,376,212
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
6,376,212
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.21%
14 TYPE OF REPORTING PERSON
HC, BK, CO
<PAGE>
SCHEDULE 13D
CUSIP No. Page 3 of ___ Pages
[________]
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morgan Grenfell Asset Management Limited
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A (a) ( )
GROUP (b) ( )
3 SEC USE ONLY
4 SOURCE OF FUNDS
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ( )
6 CITIZENSHIP OR PLACE OF ORGANIZATION
[England and Wales]
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY 0
OWNED BY EACH 8 SHARED VOTING POWER
REPORTING PERSON 4,841,648
WITH 9 SOLE DISPOSITIVE POWER
0
SHARED DISPOSITIVE POWER
10 6,359,723
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
6,359,723
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.18%
14 TYPE OF REPORTING PERSON
HC, IA
<PAGE>
SCHEDULE 13D
CUSIP No. Page 4 of ___ Pages
[________]
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morgan Grenfell Investment Management Limited
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A (a) ( )
GROUP (b) ( )
3 SEC USE ONLY
4 SOURCE OF FUNDS
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ( )
6 CITIZENSHIP OR PLACE OF ORGANIZATION
[England and Wales]
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY 0
OWNED BY EACH 8 SHARED VOTING POWER
REPORTING PERSON 3,458,900
WITH 9 SOLE DISPOSITIVE POWER
0
10 SHARED DISPOSITIVE POWER
4,320,975
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
4,320,975
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.60%
14 TYPE OF REPORTING PERSON
IA, CO
<PAGE>
ITEM 1. SECURITY AND ISSUER
This statement on Schedule 13D relates to the ordinary shares (the
"Ordinary Shares") of Industrie Natuzzi SPA ("Natuzzi"), the principal execu-
tive offices of which are located at Via Iazzitiello 47, 70029 Santeramo,
Italy L6. In some cases, such Ordinary Shares are represented by American
Depositary Receipts ("ADRs"), each of which is equivalent to one Ordinary
Share. References herein to Ordinary Shares are references also to ADRs
unless the context otherwise requires.
ITEM 2. IDENTITY AND BACKGROUND
This statement on Schedule 13D is being filed by Deutsche Bank AG
("DBAG"), Morgan Grenfell Asset Management Limited ("MGAM") and Morgan
Grenfell Investment Management Limited, ("MGIM" and, together with DBAG and
MGAM, the "Reporting Persons").
The principal business of DBAG is the provision of financial and
related services. DBAG is the largest banking institution in the Federal
Republic of Germany and is the parent company of a group consisting of banks,
capital market and fund management companies, mortgage banks and property
finance companies, installment financing and leasing companies, insurance
companies, research and consultancy companies and other companies. DBAG is
organized under the laws of the Federal Republic of Germany, and the address
of its principal place of business is Taunusanlage 12, D-60325, Frankfurt am
Main, Federal Republic of Germany.
MGAM is an indirect wholly-owned subsidiary of DBAG. The principal
business of MGAM is as an investment management holding company. MGAM is
organized under the laws of England and Wales, and the address of its
principal place of business is 20 Finsbury Circus, London EC2M 1NB, England.
MGIM is a wholly-owned subsidiary of MGAM. The principal business
of MGIM is as an investment management company. MGIM is organized under the
laws of England and Wales, and the address of its principal place of business
is 20 Finsbury Circus, London EC2M 1NB, England.
The attached Schedule A is a list of the executive officers and
directors of the Reporting Persons which contains the following information
with respect to each such person: (i) name; (ii) business address; (iii)
present principal occupation or employment and the name, principal business
and address of any corporation or other organization in which such employment
is conducted; and (iv) citizenship.
During the last five years, none of the Reporting Persons and, to
the best knowledge of the Reporting Persons, none of the persons named on
Schedule A hereto has been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors) or has been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction as a
result of which such person was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation with
respect to such laws.
This Schedule 13D does not describe certain intermediate holding
companies within the Deutsche Bank group structure. Such holding companies
exercise no material influence over the voting or disposition of the
securities covered by this Schedule 13D, except to the extent that they may
have officers and directors in common with the companies described herein.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
<PAGE>
MGIM, Morgan Grenfell Investment Services Limited ("MGIS") and
Morgan Grenfell International Funds Management Limited ("MGIFM," and together
with MGIM and MGIS, the "MGAM Managers"), are wholly-owned subsidiaries of
MGAM. Since trading in the ADRs commenced on May 13, 1993, the MGAM Managers
have purchased ADRs in open market transactions at market prices. Between
January 1 and September 10 of 1997, market prices for the ADRs have ranged
from a high of $29.3125 to a low of $20.00 per ADR.
The purchases were made by the MGAM Managers for investment fund
accounts over which they exercise discretion. Accordingly, the source of
funds used to effectuate the purchases was client funds held in such accounts.
ITEM 4. PURPOSE OF THE TRANSACTION
The MGAM Managers acquired the Ordinary Shares in the ordinary
course of their business as investment management companies.
None of the Reporting Persons and, to the best knowledge of any of
the Reporting Persons, none of the persons set forth on Schedule A, has any
current plans or proposals that relate to or would result in (a) the acquisi-
tion by any person of additional securities of Natuzzi or the disposition of
securities of Natuzzi; (b) an extraordinary corporate transaction, such as a
merger, reorganization or liquidation of Natuzzi or any of its subsidiaries;
(c) a sale or transfer of a material amount of assets of Natuzzi or any of its
subsidiaries; (d) any change in the present board of directors or management
of Natuzzi, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board; (e) any material
change in the present capitalization or dividend policy of Natuzzi; (f) any
other material change in Natuzzi's business or corporate structure; (g)
changes in Natuzzi's charter, by-laws or instruments corresponding thereto, or
other actions which may impede the acquisition of the control of Natuzzi by
any person; (h) any of Natuzzi's securities being delisted from a national
securities exchange or ceasing to be authorized to be quoted in an inter-
dealer quotation system of a registered national securities association; (i)
any of Natuzzi's equity securities becoming eligible for termination of
registration pursuant to Section 12(g)(4) of the Securities Exchange Act of
1934, as amended; or (j) any action similar to any of those enumerated above.
Notwithstanding the foregoing, the Reporting Persons, acting
directly and, in the case of DBAG and MGAM, indirectly through the MGAM
Managers or other direct or indirect wholly-owned subsidiaries, may in the
future determine to acquire additional Ordinary Shares or to dispose of
Ordinary Shares in the ordinary course of their business as investment
management companies.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) (i) DBAG may be deemed the beneficial owner of Ordinary Shares
as set forth on the applicable cover page.
(ii) MGAM may be deemed the beneficial owner of Ordinary Shares as
set forth on the applicable cover page.
(iii) MGIM may be deemed the beneficial owner of Ordinary Shares as
set forth on the applicable cover page.
(iv) None of the persons listed in Schedule A is the beneficial
owner of outstanding Ordinary Shares.
(b) (i) Reference is made to the applicable cover page for each
Reporting Person for information concerning the number of shares as to which
there is sole power to vote or to direct the vote, shared power to vote or
direct the vote, sole or shared power to dispose or to direct the disposition.
<PAGE>
(ii) In compliance with Item 5(b), the applicable information
required by Item 2 is provided below for each of the MGAM Managers (other than
MGIM for which the applicable information required by Item 2 is provided in
Item 2 above) with whom DBAG and MGAM may be deemed to share the power to
dispose of or direct the disposition of Ordinary Shares and to vote or direct
the vote of Ordinary Shares as set forth on the cover pages applicable to DBAG
and MGAM.
MGIS is a wholly-owned subsidiary of MGAM. The principal business
of MGIS is as an investment management company. MGIS is organized under the
laws of England and Wales, and the address of its principal place of business
is 20 Finsbury Circus, London, EC2M 1NB, England.
MGIFM is a wholly-owned subsidiary of MGAM. The principal business
of MGIFM is as an investment management company. MGIFM is organized under the
laws of England and Wales, and the address of its principal place of business
is 20 Finsbury Circus, London, EC2M 1NB, England.
Deutsche Gesellschaft fur Wertpapierspareri mbH ("DWS") is a wholly
owned subsidiary of DBAG. The principal business of DWS is as a mutual fund
investment company. DWS is organized under the laws of Germany, and its
principal place of business is Gruneburgweg 113-115, 60323 Frankfurt am Main,
Germany.
Deutsche Morgan Grenfell (C.I.) Limited ("DMGCI") is a wholly owned
subsidiary of DBAG. The principal business of DMGCI is as an investment
management company. DMGCI is organized under the laws of the Channel Islands,
and the address of its principal place of business is St. Paul's Gate, New
Street, St. Helier, Jersey JE4 8ZB, Channel Islands.
Deutsche Morgan Grenfell Inc. ("DMG") is a wholly owned subsidiary
of DBAG. The principal business of DMG is as a registered broker-dealer. DMG
is organized under the laws of the State of Deleware in the United States of
America, and its principal place of business is 31 West 52nd Street, New York,
NY 10019.
During the last five years, none of MGIS, MGIFM, DWS, DMGCI and DMG
has been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or has been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction as a result of which such
person was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding violation with respect to such laws.
(c) (i) During the past sixty days, DBAG acquired or disposed of
beneficial ownership of Ordinary Shares as a result of market transactions
carried out by the MGAM Managers. Such purchases are set forth in Schedule B
attached hereto.
(ii) During the past sixty days, MGAM acquired or disposed of
beneficial ownership of Ordinary Shares as a result of market transactions
carried out by the MGAM Managers. Such purchases are set forth in Schedule B
attached hereto.
(iii) During the past sixty days, MGIM acquired or disposed of
beneficial ownership of Ordinary Shares as a result of market transactions
carried out by MGIM. Such purchases are set forth in Schedule B attached
hereto.
(d) All dividends received on Ordinary Shares described in this
Schedule 13D and proceeds from the sale thereof are received for the benefit
of clients on whose behalf such Ordinary Shares have been acquired.
(e) Not applicable.
<PAGE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
None of the Reporting Persons and, to the best knowledge of the
Reporting Persons, none of the individuals identified in Schedule A has any
contract, arrangement, understanding or relationship with any person with
respect to any security of Natuzzi.
ITEM 7. Material to be filed as Exhibits:
Exhibit No. Description
1 Consent of Morgan Grenfell Asset Management
Limited
2 Consent of Morgan Grenfell Investment
Management Limited
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.
Dated: October __, 1997
DEUTSCHE BANK AG
By:_______________________
Title:
By:_______________________
Title:
<PAGE>
SCHEDULE A
I. DBAG
Each person named below is a director or executive officer of DBAG,
whose principal business is described above in Item 2.
<TABLE>
Present Principal
Name and Citizenship Business Address Occupation or Employment
<S> <C> <C>
Carl L. von Boehm-Bezing Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
Dr. Rolf-E. Breuer Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
Michael Dobson Deutsche Bank AG Member of the Board of Managing
United Kingdom Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
Dr. Michael Endres Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
Dr. Tessen von Heydebreck Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
Dr. Jurgen Krumnow Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
Georg Krupp Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
Dr. Ronaldo H. Schmitz Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
Dr. Josef Ackermann Deutsche Bank AG Member of the Board of Managing
Swiss Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
Dr. Ulrich Weiss Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Bank AG
60325 Frankfurt
The Federal Republic of Germany
</TABLE>
<PAGE>
II. MGAM
Each person named below is a director or executive officer of MGAM,
whose principal business is described above in Item 2.
<TABLE>
Present Principal Occupation or
Name and Citizenship Business Address Employment
<S> <C> <C>
David W. Baldt Morgan Grenfell Capital Member of the Board of Managing
American Management Incorporated Directors, Morgan Grenfell Asset
1435 Walnut Street Management Limited
4th Floor
Philadelphia, PA 19102, USA
Graham D. Bamping Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Henry C. Benson Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Colin M. Brown Morgan Grenfell Development Member of the Board of Managing
British Capital Limited Directors, Morgan Grenfell Asset
23 Great Winchester Street Management Limited
London, England
EC2P 2AX
Timothy F. Brown Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Elizabeth B. Bryan Morgan Grenfell Asset Member of the Board of Managing
Australian Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Michael Bullock Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Simon J. Cooke Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Anthony J. Creighton Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
David T. Cumming Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors,
20 Finsbury Circus Morgan Grenfell Asset
London, England Management Limited
EC2M 1NB
<PAGE>
Richard M. Curling Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Charles Z. Curtis Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Roger J. Curtis Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Susanna F. Davies Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Michael W.R. Dobson Deutsche Morgan Grenfell Group Plc Chairman of the Board of Managing
British 23 Great Winchester Street Directors, Morgan Grenfell Asset
London, England Management Limited
EC2P 2AX
Patrick W.W. Disney Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Ernst L. Drayss Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Asset Management
60325 Frankfurt GmbH
The Federal Republic of Germany
Neil R. Dunford Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
William P. Dwerryhouse Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
James G. Fox Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Adrian C. Frost Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
James C.W. Goulding Morgan Grenfell Investment Member of the Board
British Management (Asia) Ltd of Managing
20 Raffles Place Directors, Morgan
#25-08 Ocean Towers Grenfell Asset
Singapore 0104 Management Limited
Martin A. Hall Morgan Grenfell Capital Member of the Board of Managing
British Management Incorporated Directors, Morgan Grenfell Asset
1435 Walnut Street Management Limited
4th Floor
Philadelphia, PA 19102, USA
<PAGE>
Gerald V. Hough Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Julian R. Johnston Morgan Grenfell Asset Member of the Board of Managing
American/French Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Ian D. Kelson Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Peter Lees Morgan Grenfell Asset Member of the Board
British Management Limited of Managing
20 Finsbury Circus Directors, Morgan
London, England Grenfell Asset
EC2M 1NB Management Limited
Jeremy G. Lodwick Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
The Honourable Charles Martyn- Morgan Grenfell Asset Member of the Board
Hemphill Management Limited of Managing Directors, Morgan
British 20 Finsbury Circus Grenfell Asset Management Limited
London, England
EC2M 1NB
P. McNaughton Morgan Grenfell Asset Member of the Board
Irish Management (Ireland) of Managing Directors, Morgan
Limited Grenfell Asset Management Limited
Georges Dock House
International Financial Centre
1 Dublin
Ireland
William G. Michie Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Herbert K. Michel Deutsche Bank AG Member of the Board of Managing
German Taunusanlage 12 Directors, Deutsche Gesellschaft fur
60323 Frankfurt Fondsverwaltung mbH
The Federal Republic of Germany
James E. Minnick Morgan Grenfell Capital Member of the Board of Managing
American Management Incorporated Directors, Morgan Grenfell Asset
885 Third Avenue Management Limited
32nd Floor
New York, NY 10022-4802 USA
Stuart W. Mitchell Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Roger P. Morris Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
<PAGE>
Norman L. Murray Morgan Grenfell Asset Management Limited Member of the Board
British 20 Finsbury Circus of Managing Directors, Morgan
London, England Grenfell Asset Management Limited
EC2M 1NB
Christopher M. Phillips Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors,
20 Finsbury Circus Morgan Grenfell Asset Management
London, England Limited
EC2M 1NB
James A.J. Pulsford Deutsche Morgan Grenfell Member of the Board of Managing
British Asset Management (Japan) Directors, Morgan Grenfell Asset
Ltd, 19th Floor, Akasaka Park Building, 5-2-20 Management Limited
Akasaka,
Minato-Ku, Tokyo 107
Diane Seymour-Williams Morgan Grenfell Asset Management Limited Member of the Board of Managing
British 20 Finsbury Circus Directors, Morgan Grenfell Asset
London, England Management Limited
EC2M 1NB
Robert H. Smith Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
William G.M. Thomas Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Patrick N.C. Walker Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Anthony Wilkinson Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell Asset
20 Finsbury Circus Management Limited
London, England
EC2M 1NB
Hitoshi Yamamoto Deutsche Morgan Grenfell Member of the Board of Managing
Japanese Asset Management (Japan) Directors, Morgan Grenfell Asset
Ltd, 19th Floor, Akasaka Park Management Limited
Building, 5-2-20 Akasaka,
Minato-Ku, Tokyo 107
</TABLE>
<PAGE>
III. MGIM
<TABLE>
Each person named below is a director or executive officer of MGIM, whose principal business is described above in
Item 2.
Present Principal Occupation or
Name and Citizenship Business Address Employment
<S> <C> <C>
Stephen W. Barrow Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England EC2M 1NB
Paul C. Berriman Morgan Grenfell Investment Management Limited Member of the Board of Managing
British 20 Finsbury Circus Directors, Morgan Grenfell
London Investment Management Limited
England
EC2M 1NB
Mark A. Burgess Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
William J. Chard Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Shaun A. Coleman Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Alastair N. Cuming Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Charles J.C. Ekins Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Nicholas P. Evans Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Steven J. Evans Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
<PAGE>
Peter N.S. Hanbury Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Oliver R.C. Larminie Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Alistair D. Morrison Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
John A. Murphy Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Simon D. Peck Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Nigel L. Ridge Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Jane A. Simmons Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Karl S. Sternberg Morgan Grenfell Investment Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Investment Management Limited
London
England
EC2M 1NB
Davina Walter Morgan Grenfell Asset Member of the Board of Managing
British Management Limited Directors, Morgan Grenfell
20 Finsbury Circus Asset Management Limited
London
England
EC2M 1NB
</TABLE>
The following members of the Board of Managing Directors of Morgan Grenfell
Investment Management Limited are also members of the Board of Managing
Directors of Morgan Grenfell Asset Management Limited and their citizenships,
business addresses and present principal occupations or employments are set
forth in Part II of this Schedule A.
Neil R. Dunford
Anthony J. Creighton
<PAGE>
Richard M. Curling
Charles Z. Curtis
Roger J. Curtis
Susanna F. Davies
William P. Dwerryhouse
Charles J.M. Franklin
Adrian C. Frost
James C.W. Goulding
Gerald V. Hough
Peter R. Lees
The Hon. Charles A. Martyn-Hemphill
William G.G. Michie
Stuart W. Mitchell
Roger P. Morris
Christopher M. Phillips
Anthony Wilkinson
Hitoshi Yamamoto
<PAGE>
SCHEDULE B
Following are the transactions in Ordinary Shares effected by MGIM and
the other MGAM Managers in the past 60 days.
<TABLE>
TRANSACTIONS IN INDUSTRIE NATUZZI ADRS 07/23/97 - 09/24/97
DATE CUSTOMER PURCHASE/SALE NO. SHARES PRICE IN US$
<S> <C> <C> <C> <C>
07/23/97 Morgan Grenfell Investment Management Limited Purchase 1,148 27.39
07/23/97 Morgan Grenfell Investment Management Limited Purchase 287 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 857 27.29
07/23/97 Morgan Grenfell Investment Management Limited Purchase 1,924 27.28
07/23/97 Morgan Grenfell Investment Management Limited Purchase 568 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 239 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 692 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 837 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 146 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 5,479 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 650 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 1,695 27.37
07/23/97 Morgan Grenfell Investment Management Limited Purchase 914 27.29
07/23/97 Morgan Grenfell Investment Management Limited Purchase 190 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 159 27.36
07/23/97 Morgan Grenfell Investment Management Limited Purchase 235 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 689 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 1,527 27.38
07/23/97 Morgan Grenfell Investment Management Limited Purchase 795 27.27
07/23/97 Morgan Grenfell Investment Management Limited Purchase 800 27.29
07/24/97 Morgan Grenfell Investment Management Limited Purchase 79 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 192 26.91
07/24/97 Morgan Grenfell Investment Management Limited Purchase 48 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 144 26.83
07/24/97 Morgan Grenfell Investment Management Limited Purchase 322 26.78
07/24/97 Morgan Grenfell Investment Management Limited Purchase 95 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 40 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 116 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 140 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 24 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 918 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 109 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 284 26.83
07/24/97 Morgan Grenfell Investment Management Limited Purchase 153 26.83
07/24/97 Morgan Grenfell Investment Management Limited Purchase 32 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 27 27.29
07/24/97 Morgan Grenfell Investment Management Limited Purchase 39 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 115 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 256 26.89
07/24/97 Morgan Grenfell Investment Management Limited Purchase 133 26.73
07/24/97 Morgan Grenfell Investment Management Limited Purchase 134 26.84
07/24/97 Morgan Grenfell Investment Management Limited Sale (825) 26.81
07/25/97 Morgan Grenfell Investment Management Limited Purchase 486 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 1,183 27.64
07/25/97 Morgan Grenfell Investment Management Limited Purchase 296 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 887 27.54
07/25/97 Morgan Grenfell Investment Management Limited Purchase 1,991 27.53
07/25/97 Morgan Grenfell Investment Management Limited Purchase 588 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 248 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 715 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 867 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 151 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 5,668 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 672 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 1,754 27.62
07/25/97 Morgan Grenfell Investment Management Limited Purchase 946 27.54
<PAGE>
07/25/97 Morgan Grenfell Investment Management Limited Purchase 197 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 165 27.61
07/25/97 Morgan Grenfell Investment Management Limited Purchase 243 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 713 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 1,579 27.63
07/25/97 Morgan Grenfell Investment Management Limited Purchase 823 27.52
07/25/97 Morgan Grenfell Investment Management Limited Purchase 828 27.54
07/28/97 Morgan Grenfell Investment Management Limited Purchase 76 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 186 27.70
07/28/97 Morgan Grenfell Investment Management Limited Purchase 47 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 139 27.63
07/28/97 Morgan Grenfell Investment Management Limited Purchase 313 27.57
07/28/97 Morgan Grenfell Investment Management Limited Purchase 92 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 39 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 112 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 136 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 24 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 891 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 106 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 276 27.62
07/28/97 Morgan Grenfell Investment Management Limited Purchase 149 27.62
07/28/97 Morgan Grenfell Investment Management Limited Purchase 31 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 26 28.10
07/28/97 Morgan Grenfell Investment Management Limited Purchase 38 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 112 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 248 27.68
07/28/97 Morgan Grenfell Investment Management Limited Purchase 129 27.52
07/28/97 Morgan Grenfell Investment Management Limited Purchase 130 27.64
07/29/97 Morgan Grenfell Investment Management Limited Purchase 810 27.82
07/29/97 Morgan Grenfell Investment Management Limited Purchase 243 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 593 27.60
07/29/97 Morgan Grenfell Investment Management Limited Purchase 148 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 443 27.50
07/29/97 Morgan Grenfell Investment Management Limited Purchase 995 27.49
07/29/97 Morgan Grenfell Investment Management Limited Purchase 294 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 124 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 358 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 433 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 75 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 2,834 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 336 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 877 27.57
07/29/97 Morgan Grenfell Investment Management Limited Purchase 472 27.50
07/29/97 Morgan Grenfell Investment Management Limited Purchase 98 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 83 27.65
07/29/97 Morgan Grenfell Investment Management Limited Purchase 121 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 357 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 790 27.59
07/29/97 Morgan Grenfell Investment Management Limited Purchase 412 27.47
07/29/97 Morgan Grenfell Investment Management Limited Purchase 414 27.51
07/30/97 Morgan Grenfell Investment Management Limited Purchase 143 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 350 27.98
07/30/97 Morgan Grenfell Investment Management Limited Purchase 88 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 262 27.89
07/30/97 Morgan Grenfell Investment Management Limited Purchase 588 27.86
07/30/97 Morgan Grenfell Investment Management Limited Purchase 174 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 73 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 211 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 256 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 44 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 1,673 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 198 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 518 27.93
07/30/97 Morgan Grenfell Investment Management Limited Purchase 279 27.88
07/30/97 Morgan Grenfell Investment Management Limited Purchase 58 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 1,720 27.80
<PAGE>
07/30/97 Morgan Grenfell Investment Management Limited Purchase 48 28.14
07/30/97 Morgan Grenfell Investment Management Limited Purchase 72 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 211 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 466 27.97
07/30/97 Morgan Grenfell Investment Management Limited Purchase 243 27.83
07/30/97 Morgan Grenfell Investment Management Limited Purchase 245 27.89
07/31/97 Morgan Grenfell Investment Management Limited Purchase 256 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 625 28.22
07/31/97 Morgan Grenfell Investment Management Limited Purchase 156 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 468 28.12
07/31/97 Morgan Grenfell Investment Management Limited Purchase 1,050 28.10
07/31/97 Morgan Grenfell Investment Management Limited Purchase 310 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 131 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 378 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 457 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 80 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 2,990 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 354 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 925 28.20
07/31/97 Morgan Grenfell Investment Management Limited Purchase 499 28.12
07/31/97 Morgan Grenfell Investment Management Limited Purchase 104 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 87 28.26
07/31/97 Morgan Grenfell Investment Management Limited Purchase 128 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 376 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 833 28.21
07/31/97 Morgan Grenfell Investment Management Limited Purchase 434 28.09
07/31/97 Morgan Grenfell Investment Management Limited Purchase 437 28.12
08/05/97 Morgan Grenfell Investment Management Limited Purchase 660 27.94
08/05/97 Morgan Grenfell Investment Management Limited Purchase 660 27.52
08/05/97 Morgan Grenfell Investment Management Limited A (660) 27.94
08/07/97 Morgan Grenfell Investment Management Limited Sale (1,300) 27.32
08/07/97 Morgan Grenfell Investment Services Limited Purchase 1,300 27.32
08/07/97 Morgan Grenfell Investment Services Limited Sale (1,300) 27.32
08/07/97 Morgan Grenfell Investment Services Limited Purchase 5,100 27.44
08/08/97 Morgan Grenfell Investment Management Limited Purchase 1,190 27.32
08/11/97 Morgan Grenfell Investment Services Limited Purchase 800 27.47
08/12/97 Morgan Grenfell Investment Services Limited Sale (5,221) 28.08
08/12/97 Morgan Grenfell Investment Management Limited Purchase 3,800 28.07
08/13/97 Morgan Grenfell Investment Services Limited Purchase 4,500 28.26
08/14/97 Morgan Grenfell Investment Services Limited Purchase 21,000 27.82
08/14/97 Morgan Grenfell Investment Management Limited Purchase 3,830 27.82
08/14/97 Morgan Grenfell Investment Management Limited Purchase 3,700 27.82
08/15/97 Morgan Grenfell Investment Services Limited Purchase 741 26.87
08/15/97 Morgan Grenfell Investment Management Limited Sale (1,107) 26.69
08/22/97 Morgan Grenfell Investment Management Limited Sale (4,000) 27.31
08/28/97 Morgan Grenfell Investment Services Limited Sale (6,000) 26.81
08/29/97 Morgan Grenfell Investment Services Limited Purchase 1,141 27.64
09/01/97 Morgan Grenfell Investment Management Limited Movement (7,542)
09/02/97 Morgan Grenfell Investment Management Limited Sale (5,000) 27.25
09/03/97 Morgan Grenfell Investment Services Limited Sale (10,200) 27.27
09/04/97 Morgan Grenfell Investment Services Limited Sale (17,000) 27.72
09/05/97 Morgan Grenfell Investment Services Limited Sale (100) 27.94
09/05/97 Morgan Grenfell Investment Management Limited Sale (1,300) 27.94
09/05/97 Morgan Grenfell Investment Management Limited Sale (3,600) 27.94
09/09/97 Morgan Grenfell Investment Management Limited Sale (169) 23.54
09/09/97 Morgan Grenfell Investment Management Limited Sale (1,120) 23.54
09/09/97 Morgan Grenfell Investment Management Limited Sale (80,000) 23.95
09/09/97 Morgan Grenfell Investment Services Limited Sale (2,870) 23.54
09/11/97 Morgan Grenfell Investment Management Limited Sale (1,700) 23.75
09/15/97 Morgan Grenfell Investment Services Limited Sale (2,300) 24.49
09/15/97 Morgan Grenfell Investment Services Limited Sale (17,700) 24.49
09/17/97 Morgan Grenfell Investment Services Limited Sale (1,400) 23.94
09/17/97 Morgan Grenfell Investment Services Limited Sale (11,000) 23.94
09/18/97 Morgan Grenfell Investment Services Limited Sale (1,144) 24.19
09/18/97 Morgan Grenfell Investment Services Limited Sale (8,700) 24.19
07/23/97 Morgan Grenfell Investment Management Limited Purchase 469 27.27
<PAGE>
</TABLE>
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
1 Consent of Morgan Grenfell Asset Management
Limited
2 Consent of Morgan Grenfell Investment Management Limited
<PAGE>
EXHIBIT 1
Consent of Morgan Grenfell Asset Management
The undersigned agrees that the Schedule 13D executed by Deutsche Bank AG
to which this statement is attached as an exhibit is filed on behalf of
Deutsche Bank AG, Morgan Grenfell Asset Management Limited and Morgan Grenfell
Investment Management Limited pursuant to Rule 13d-1(f)(1) of the Securities
Exchange Act of 1934.
Dated: October __, 1997
MORGAN GRENFELL ASSET MANAGEMENT
LIMITED
By:_________________________
Name:
Title:
By:__________________________
Name:
Title:
<PAGE>
EXHIBIT 2
Consent of Morgan Grenfell Investment Management Limited
The undersigned agrees that the Schedule 13D executed by Deutsche Bank AG
to which this statement is attached as an exhibit is filed on behalf of
Deutsche Bank AG, Morgan Grenfell Asset Management Limited and Morgan Grenfell
Investment Management Limited, pursuant to Rule 13d-1(f)(1) of the Securities
Exchange Act of 1934.
Dated: October __, 1997
MORGAN GRENFELL INVESTMENT
MANAGEMENT LIMITED
By:_________________________
Name:
Title:
By:_________________________
Name:
Title:
