EXHIBIT 12
                                                                 ----------

                         SECTION 302 CERTIFICATION

I, Jose Manent, certify that:

1.   I have  reviewed  this annual  report on Form 20-F of  Instrumentation
     Laboratory S.p.A.;

2.   Based on my  knowledge,  this  report  does  not  contain  any  untrue
     statement  of a  material  fact  or  omit to  state  a  material  fact
     necessary to make the statements  made, in light of the  circumstances
     under which such  statements were made, not misleading with respect to
     the period covered by this report;

3.   Based on my knowledge,  the financial statements,  and other financial
     information  included in this report,  fairly  present in all material
     respects the financial condition, results of operations and cash flows
     of the company as of, and for, the periods presented in his report;

4.   The  company's  other  certifying  officer and I are  responsible  for
     establishing  and maintaining  disclosure  controls and procedures (as
     defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the company
     and have:

     (a)  Designed such disclosure controls and procedures,  or caused such
          disclosure  controls  and  procedures  to be  designed  under our
          supervision,  to ensure that material information relating to the
          company, including its consolidated subsidiaries is made known to
          us by others with those entities,  particularly during the period
          in which this report is being prepared:

     (b)  Evaluated the effectiveness of the company's  disclosure controls
          and procedures and presented in this report our conclusions about
          the effectiveness of the disclosure  controls and procedures,  as
          of the end of the  period  covered by this  report  based on such
          evaluation; and

     (c)  Disclosed  in this  report any change in the  company's  internal
          control over financial  reporting that occurred during the period
          covered by the annual report that has materially affected,  or is
          reasonably likely to materially  affect,  the company's  internal
          control over financial reporting; and

5.   The company's other certifying officers and I have disclosed, based on
     our  most  recent   evaluation  of  internal  control  over  financial
     reporting,  to the company's  auditors and the audit  committee of the
     company's  board of directors (or persons  performing  the  equivalent
     functions):

     (a)  All  significant  deficiencies  and  material  weaknesses  in the
          design or operation of internal control over financial  reporting
          which are  reasonably  likely to adversely  affect the  company's
          ability  to  record,  process,  summarize  and  report  financial
          information; and

     (b)  Any fraud,  whether or not material,  that involves management or
          other  employees  who have a  significant  role in the  company's
          internal control over financial reporting.

Dated: May 24, 2004


/s/ Jose Manent
------------------------
Jose Manent
Chief Executive Officer

<PAGE>

                         SECTION 302 CERTIFICATION

I, Jose Luis Martin, certify that:

1.   I have  reviewed  this annual  report on Form 20-F of  Instrumentation
     Laboratory S.p.A.;

2.   Based on my  knowledge,  this  report  does  not  contain  any  untrue
     statement  of a  material  fact  or  omit to  state  a  material  fact
     necessary to make the statements  made, in light of the  circumstances
     under which such  statements were made, not misleading with respect to
     the period covered by this report;

3.   Based on my knowledge,  the financial statements,  and other financial
     information  included in this report,  fairly  present in all material
     respects the financial condition, results of operations and cash flows
     of the company as of, and for, the periods presented in his report;

4.   The  company's  other  certifying  officer and I are  responsible  for
     establishing  and maintaining  disclosure  controls and procedures (as
     defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the company
     and have:

     (a)  Designed such disclosure controls and procedures,  or caused such
          disclosure  controls  and  procedures  to be  designed  under our
          supervision,  to ensure that material information relating to the
          company, including its consolidated subsidiaries is made known to
          us by others with those entities,  particularly during the period
          in which this report is being prepared:

     (b)  Evaluated the effectiveness of the company's  disclosure controls
          and procedures and presented in this report our conclusions about
          the effectiveness of the disclosure  controls and procedures,  as
          of the end of the  period  covered by this  report  based on such
          evaluation; and

     (c)  Disclosed  in this  report any change in the  company's  internal
          control over financial  reporting that occurred during the period
          covered by the annual report that has materially affected,  or is
          reasonably likely to materially  affect,  the company's  internal
          control over financial reporting; and

5.   The company's other certifying officers and I have disclosed, based on
     our  most  recent   evaluation  of  internal  control  over  financial
     reporting,  to the company's  auditors and the audit  committee of the
     company's  board of directors (or persons  performing  the  equivalent
     functions):

     (a)  All  significant  deficiencies  and  material  weaknesses  in the
          design or operation of internal control over financial  reporting
          which are  reasonably  likely to adversely  affect the  company's
          ability  to  record,  process,  summarize  and  report  financial
          information; and

     (b)  Any fraud,  whether or not material,  that involves management or
          other  employees  who have a  significant  role in the  company's
          internal control over financial reporting.

Dated: May 24, 2004


/s/ Jose Luis Martin
--------------------------
Jose Luis Martin
Chief Financial Officer