I think the KOF issue might be a bit of a stretch; seems Simoncini concentrates on lugless construction, though a lugged frame was reviewed in Cycling Plus a year or so ago. BUT, I do have a Simoncini 'cross bike that is lugged (very non-standard geometry for 'cross, too), and it also has the same TT decal. I think the lower word is "Renato", as in Renato Simoncini. The upper looks possibly like "La Casa". Maybe "The House of Renato"?
Jon Schaer
Columbus, OH