<SEC-DOCUMENT>0000903423-13-000483.txt : 20131028
<SEC-HEADER>0000903423-13-000483.hdr.sgml : 20131028
<ACCEPTANCE-DATETIME>20130822160957
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000903423-13-000483
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20130822

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pacific Airport Group
		CENTRAL INDEX KEY:			0001347557
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRPORTS, FLYING FIELDS & AIRPORT TERMINAL SERVICES [4581]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			O5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA MARIANO OTERO NO. 1249, PISO 6
		STREET 2:		COL. RINCONADA DEL BOSQUE
		CITY:			GUADALAJARA, JALISCO
		STATE:			O5
		ZIP:			45140
		BUSINESS PHONE:		(52)(33) 3880-1100

	MAIL ADDRESS:	
		STREET 1:		AVENIDA MARIANO OTERO NO. 1249, PISO 6
		STREET 2:		COL. RINCONADA DEL BOSQUE
		CITY:			GUADALAJARA, JALISCO
		STATE:			O5
		ZIP:			45140
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<td valign="bottom" width="25%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="FONT-FAMILY: arial; FONT-SIZE: 10pt">August 22, 2013</font></font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">VIA EDGAR TRANSMISSION</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Mr. Lyn Shenk</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Branch Chief</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Division of Corporation Finance</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Securities and Exchange Commission</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">100 F Street, N.E.</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Re:</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Grupo Aeroportuario del Pac&#237;fico, S.A.B. de C.V.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Form&#160;20-F for the Year Ended December 31, 2012</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Filed April 15, 2013</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">File No. 001-32751</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Dear Mr. Shenk:</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">By letter dated July 31, 2013, the staff of the Securities and Exchange Commission (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Staff</font>&#8221;) provided certain comments to the annual report on Form&#160;20-F filed on April&#160;15, 2013 (&#8220;2012 Form 20-F&#8221;) by the Pacific Airport Group (Grupo Aeroportuario del Pac&#237;fico, S.A.B. de C.V., or the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;).&#160;&#160;We are submitting via EDGAR its response to the Staff&#8217;s comments.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">For convenience, we have reproduced in italics below the Staff&#8217;s comments and have provided our response immediately below the comments.&#160;&#160;Amounts discussed in this letter are expressed in thousands of Mexican pesos, unless otherwise indicated.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Form 20-F for Fiscal Year Ended December 31, 2012</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Consolidated Financial Statements</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Notes to Consolidated Financial Statements</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Note 7. Trade accounts receivable, F-28</font></font></div>

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<div><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">1.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">We note the allowance for doubtful accounts is a significant percentage of the trade accounts receivable balance for each year presented. From prior disclosures, it appears a large portion of the allowance is comprised of accounts that were reserved for in 2008, 2009 and 2010. Please tell us the most material trade accounts receivables that comprise the allowance at December 31, 2012, when such accounts were reserved, the status of these accounts and why it is appropriate to continue to record these receivables and the related allowance.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Response:</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The most material trade accounts receivable that comprise our allowance as of December 31, 2012 are those related to outstanding Passenger Charge Fees (&#8220;TUA&#8221;) owed by former airline customers of our airports. In addition, we also have amounts reserved for accounts receivable with various commercial clients for outstanding payments on leases.</font></div>

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<td width="33%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Av. Mariano Otero No. 1249 ala B piso 6</font> </font>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Condominio WTC Torre Pac&#237;fico</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Guadalajara, Jalisco C.P. 44530</font></font></div>
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<td valign="bottom" width="33%" style="TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="FONT-FAMILY: arial; FONT-SIZE: 10pt">1</font><font style="FONT-FAMILY: arial; FONT-SIZE: 10pt">/4</font></font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Company&#8217;s principal source of income is the TUA. TUA is charged to each passenger (except diplomats, infants and transit and transfer passengers) who uses our airports and their services.&#160;&#160;The TUA is collected by our airline customers and subsequently paid to our airports; accordingly, we have entered into agreements with our airline customers to collect the TUA on behalf of the respective airport. According to these agreements, each airline customer has a grace period of up to a maximum of 60 days to pay our airports the TUA that such airline customer has collected from its passengers. In accordance with our policy, we record reserves for outstanding TUA amounts if the airlines do not pay those amounts once payable and due.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Allowance for Doubtful Accounts:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The following table presents the balance of the allowance for doubtful accounts as of December 31, 2012:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; COLOR: #ffffff; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;Creation</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Consorcio Aviaxsa, S.A. de C.V.</font></div>
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<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">33,550</font></div>
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<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2009</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Compa&#241;&#237;a Mexicana de Aviaci&#243;n, S.A.</font></div>
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<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,557</font></div>
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<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2010</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aerov&#237;as Caribe, S.A. de C.V.</font></div>
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<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">25,168</font></div>
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<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
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<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2010</font></div>
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</tr><tr bgcolor="#ffffff">
<td align="left" valign="top" width="24%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Grupo Avolar, S.A. de C.V.</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22,272</font></div>
</td>
<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2008</font></div>
</td>
</tr><tr bgcolor="#ffffff">
<td align="left" valign="top" width="24%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Inmuebles Especializados Matrix, S.A.</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,406</font></div>
</td>
<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2010</font></div>
</td>
</tr><tr bgcolor="#ffffff">
<td align="left" valign="top" width="24%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Mexicana MRO, S.A. de C.V.</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,462</font></div>
</td>
<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2012</font></div>
</td>
</tr><tr bgcolor="#ffffff">
<td align="left" valign="top" width="24%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">L&#237;neas A&#233;reas Allegro. S.A. de C.V.</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,497</font></div>
</td>
<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2004/2006</font></div>
</td>
</tr><tr bgcolor="#ffffff">
<td align="left" valign="top" width="24%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aero California. S.A. de C.V.</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,090</font></div>
</td>
<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2009</font></div>
</td>
</tr><tr bgcolor="#ffffff">
<td align="left" valign="top" width="24%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Mexicana Inter, S.A. de C.V.</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;9,421</font></div>
</td>
<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2010</font></div>
</td>
</tr><tr bgcolor="#ffffff">
<td align="left" valign="top" width="24%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">L&#237;neas A&#233;reas Azteca, S.A. de C.V.</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;4,774</font></div>
</td>
<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2007</font></div>
</td>
</tr><tr bgcolor="#ffffff">
<td align="left" valign="top" width="24%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">J.C. Arrendamientos. S.A. de C.V.</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;1,599</font></div>
</td>
<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Legal proceeding ongoing</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2010</font></div>
</td>
</tr><tr bgcolor="#ffffff">
<td align="left" valign="top" width="24%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other Customers</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: #000000 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40,209</font></div>
</td>
<td valign="top" width="18%" style="BORDER-BOTTOM: #000000 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: #000000 0.5pt solid; BORDER-RIGHT: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#ffffff">
<td valign="bottom" width="24%" style="BORDER-BOTTOM: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">226,005&#160;&#160; </font></div>
</td>
<td align="left" valign="bottom" width="18%" style="BORDER-BOTTOM: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;&#160;</font></div>
</td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 0.5pt solid; BORDER-RIGHT: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The majority of these accounts were reserved during the years 2008 to 2010 as a result of the suspension of operations of several of our airline customers and selected commercial clients during that time. The following describes in detail the financial problems of several of our customers and the corresponding increases in our allowance for doubtful accounts:</font></div>

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<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
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<div><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">-&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During 2008, we increased our allowance for doubtful accounts by Ps. 62.2 million, primarily as a result of receivables from Grupo Avolar, S.A. de C.V. (&#8220;Avolar&#8221;), Aerol&#237;neas Mesoamericanas, S.A. de C.V. (&#8220;Alma&#8221;) and Aerocalifornia, S.A. de C.V. (&#8220;Aerocalifornia&#8221;). The operations of Aerocalifornia and Avolar were suspended by the Ministry of Communication and Transportations in the third quarter of 2008 as a result of overdue fees for the right to use air space and gasoline expenses. In November 2008, Alma suspended operations and filed for bankruptcy in Mexico.</font></div>
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<div align="center">
<table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td width="33%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Av. Mariano Otero No. 1249 ala B piso 6</font> </font>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Condominio WTC Torre Pac&#237;fico</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Guadalajara, Jalisco C.P. 44530</font></font></div>
</td>
<td width="33%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="33%" style="TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="FONT-FAMILY: arial; FONT-SIZE: 10pt">2</font><font style="FONT-FAMILY: arial; FONT-SIZE: 10pt">/4</font></font></td>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><img src="pag-logowline.jpg"></div>

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&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
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<td align="right" style="WIDTH: 36pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">-&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During 2009, we increased our allowance for doubtful accounts by Ps. 23.0 million, mainly due to the suspension of operations of Consorcio Aviaxsa, S.A. de C.V. and Cenca Comercializadora, S.A. de C.V. due to their financial difficulties, as well as of some of our commercial clients, due to the influenza A/H1N1 flu epidemic and the resulting negative effect on the levels of international and domestic passenger traffic at our airports.</font></div>
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</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td align="right" style="WIDTH: 36pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">-&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During 2010, we increased our allowance for doubtful accounts by Ps. 82.1 million, mainly as a result of the suspension of operations of Grupo Mexicana de Aviaci&#243;n ("GMA"), which included the operations of Compa&#241;&#237;a Mexicana de Aviaci&#243;n, S.A. de C.V. (&#8220;Mexicana&#8221;), Aerov&#237;as Caribe, S.A de C.V. (&#8220;Click&#8221;), Mexicana Inter, S.A. de C.V. (&#8220;Link&#8221;) and Mexicana MRO, S.A. de C.V., which filed for bankruptcy protection in August 2010 in order to restructure its liabilities and determine the viability and continuity of the company. GMA announced the indefinite suspension of its operations on August 28, 2010.</font></div>
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<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td align="right" style="WIDTH: 36pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">-&#160;&#160;</font></div>
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<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During 2011 and 2012, the balance of our allowance for doubtful accounts fluctuated slightly compared with previous years, because no particular event caused us to record any additional material reserves. In addition, we have experienced an improvement in the fulfillment of payment obligations by our airline customers and other commercial clients over the last few years.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Due to the financial difficulties experienced by some of our clients, in November 2009 we adopted a more robust guarantee policy for our accounts receivable which was implemented over the course of 2010. According to this new policy, every airline customer must provide a guarantee, in the form of a bond or cash equivalent, equal to the estimated TUA for approximately 30 days more than the particular credit period requested by such airline customer. The new policy enables us to recover outstanding amounts directly from guarantees without the need for further recourse against the relevant debtor.&#160;&#160;For more information on our current guarantee policy, please see &#8220;Item 4, <font style="FONT-STYLE: italic; DISPLAY: inline">Business Overview</font>&#8212;<font style="FONT-STYLE: italic; DISPLAY: inline">Our Sources of Revenue</font>&#8212;<font style="FONT-STYLE: italic; DISPLAY: inline">Passenger Charges</font>&#8221; and Note 4 (&#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Financial Risk Management</font>&#8221;) to our Consolidated Financial Statements, in our 2012 Form 20-F.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Due to the financial problems of the airline customers and selected other commercial clients noted above and their failure to pay past due amounts, including the TUA collected on our behalf, we filed legal proceedings against these customers in order to collect the outstanding amounts. Obtaining these amounts by means of these legal proceedings has been a prolonged process, and, as of December 31, 2012, none of the proceedings that we had initiated had concluded.</font></div>

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<td width="33%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Av. Mariano Otero No. 1249 ala B piso 6</font> </font>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Condominio WTC Torre Pac&#237;fico</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Finally, as requested by the Staff, the Company acknowledges that:</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the filing; and</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">If you have any questions or require any additional information with respect to the above, please do not hesitate to contact our U.S. counsel, Jorge U. Juantorena at Cleary Gottlieb Steen&#160;&amp; Hamilton&#160;LLP, at (212) 225-2758.</font></div>

<div>&#160;</div>

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<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Sincerely yours,</font></font></div>

<div>&#160;</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ra&#250;l Revuelta Musalem</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chief Financial Officer</font></div>
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<div>&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block">
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<div>&#160;</div>

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<tr>
<td width="33%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Av. Mariano Otero No. 1249 ala B piso 6</font> </font>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Condominio WTC Torre Pac&#237;fico</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Guadalajara, Jalisco C.P. 44530</font></font></div>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
