<SEC-DOCUMENT>0000891092-12-002575.txt : 20120504
<SEC-HEADER>0000891092-12-002575.hdr.sgml : 20120504
<ACCEPTANCE-DATETIME>20120504100146
ACCESSION NUMBER:		0000891092-12-002575
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20111231
FILED AS OF DATE:		20120504
DATE AS OF CHANGE:		20120504

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GROUP SIMEC SA DE CV
		CENTRAL INDEX KEY:			0000887153
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11176
		FILM NUMBER:		12812225

	BUSINESS ADDRESS:	
		STREET 1:		CALZADA LAZARO CARDENAS 601
		CITY:			44910 GUADALAJARA JA
		STATE:			O5
		ZIP:			10022

	MAIL ADDRESS:	
		STREET 1:		CALZADA LAZARO CARDENAS
		CITY:			GUADALAJARA JALISCO
		STATE:			O5
		ZIP:			999999999
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>e48353_6k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">FORM 6-K</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>COMMISSION FILE NUMBER 1-11176</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">For the month of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dec
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
, 2011.</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">Group Simec,
Inc.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Translation of Registrant&rsquo;s Name Into
English)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">&nbsp;Av. Lazaro Cardenas 601, Colonia la Nogalera,
Guadalajara, Jalisco, Mexico 44440</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Form
20-F </FONT>[X]<FONT STYLE="font: 11pt Times New Roman, Times, Serif"> Form 40-F </FONT>[_]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in""><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Yes&#9;
</FONT>[_]<FONT STYLE="font: 11pt Times New Roman, Times, Serif"> No&#9; </FONT>[X]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in""><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Yes&#9;
</FONT>[_]<FONT STYLE="font: 11pt Times New Roman, Times, Serif"> No&#9; </FONT>[X]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Indicate by check mark whether
the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in""><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Yes&#9;
</FONT>[_]<FONT STYLE="font: 11pt Times New Roman, Times, Serif"> No&#9; </FONT>[X]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(If &ldquo;Yes&rdquo; is marked, indicate below the file number
assigned to the registrant in connection with Rule 12g3-2(b): 82-_______________________.)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SIGNATURE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 57%; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 43%; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">GRUPO SIMEC, S.A.B. de C.V.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Registrant)</TD></TR>
</TABLE>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 212.7pt; text-indent: 35.45pt"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt">Date: May 04, 2012.</TD>
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">By:&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 43%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">/s/ Luis Garc&iacute;a Lim&oacute;n</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:&nbsp;&nbsp; Luis Garc&iacute;a Lim&oacute;n&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer</TD></TR>
</TABLE>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS AUDITED FOR THE YEAR
OF 2011 AND 2010</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">GUADALAJARA, MEXICO, May 3, 2012- Grupo Simec,
S.A.B. de C.V. (AMEX: SIM) (&ldquo;Simec&rdquo;) <FONT STYLE="font-size: 11pt">announced today its results of operations Audited
for the twelve-month period ended December 31, 2011 and December 31, 2010</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Twelve-Month Period Ended December 31, 2011
compared to Twelve-Month Period Ended December 31, 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: justify">We reclassified indirect cost in 2010 from
selling, general and administrative expenses to Inventories and Cost Sales according with the full cost, issued by the Mexican
Financial Reporting Standards &ldquo;MFRS&rdquo; for purposes of comparability with 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net sales increased 19% by the combination
of higher sales of Special Bars &ldquo;SBQ&rdquo;, shipments of finished steel products and the increase of the average sales price
per ton of 17% compared versus the same period of 2010, the sale rose from Ps. 24,576 millions in the twelve-month period ended
December 31, 2010 to Ps. 29,270 millions in the same period of 2011. Shipments of finished steel products increase 2% to 2 million
288 thousand tons in the twelve-month period ended December 31, 2011 compared to 2 million 241 thousand tons in the same period
of 2010. Total sales outside <FONT STYLE="font-size: 11pt">of Mexico in the twelve-month period ended December 31, 2011 increased
14% to Ps. 15,654 million compared with Ps. 13,777 millions in the same period of 2010. Total sales in Mexico increased 26% from
Ps. 10,799 millions in the twelve-month period ended December 31, 2010 to Ps. 13,616 millions in the same period of 2011. The increase
in sales is due to an increase shipments during the twelve-month period ended December 31, 2011, compared to the same period in
2010 (47 thousand tons), increase in SBQ shipment in 193 thousand tons, and the increase of the average sales price of 17%. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Cost of Sales</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of sales increased 15% from Ps. 22,250
millions in the twelve-month period ended December 31, 2010 to Ps. 25,624 millions in the same period of 2011. Cost of sales as
a percentage of net sales in the twelve months ended on December 31 of 2011 and 2010, cost of sales represented 88 and 91% respectively.
The average cost of finished steel produced in the twelve-month period ended December 31, 2011 compared to the same period of 2010
increased approximately 13% by a higher of SBQ sales and increase of shipment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Gross Profit</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gross profit of the Company in the twelve<FONT STYLE="font-size: 11pt">-month
period ended December 30,</FONT> 2011 was of Ps. 3,646 million compared to Ps. 2,326 millions in the same period of 2010. Gross
profit as a percentage of net sales represented 12% and 9% in 2011 and 2010 respectively. <FONT STYLE="font-size: 11pt">The increase
in the gross profit is attributed to an increase in the volume shipment, better blend of steel compared with the same period of
2010.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>General, Sales and Administrative Expenses</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Selling, general and administrative expenses
decreased 9% from Ps. 1,152 millions in the twelve<FONT STYLE="font-size: 11pt">-month period ended December 31,</FONT> 2010 to
Ps. 1,054 millions in the same period of 2011, representing 4% and 5% respect of net sales in the twelve<FONT STYLE="font-size: 11pt">-month
period ended December </FONT>2011 and 2010 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Operating Income</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating income increased 121% from Ps. 1,174
million for the twelve<FONT STYLE="font-size: 11pt">-month period ended December 31,</FONT> 2010 to Ps. 2,592 millions in the same
period of 2011. Operating income as a percentage of net sales was 9% in the twelve<FONT STYLE="font-size: 11pt">-month period ended
December 31,</FONT> 2011 compared with 5% in the same period of 2010. <FONT STYLE="font-size: 11pt">The increase in operating income
is due to an increase in shipments, increase in sales of SBQ and better average sales price per ton.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">EBITDA</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EBITDA of the Company increase 58% from
Ps. 2,272 millions in the twelve-month prior ended December 31, of 2010, to Ps.3,593 millions in the same period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Comprehensive Financial Cost.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comprehensive financial cost in the twelve-month
period ended December 31, 2011 represented a net income of Ps. 584 million compared with a net expense of Ps. 207 millions in the
same period of 2010. The net interest was an income of Ps 2 million in 2011 compared with a net interest of Ps. zero in the twelve-month
period ended December 31, 2010. So it, we registered a net exchange gain net of Ps. 582 millions in the twelve<FONT STYLE="font-size: 11pt">-month
period ended December 31,</FONT> 2011 compared with a net exchange loss of Ps. 207 millions in the same period of 2010, reflecting
a 13% decrease in the value of the peso versus the dollar in the twelve-month period ended December 31, 2011 compared to December
31, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Other Expenses (Income) net </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company recorded other net expenses of
Ps. 186 millions in the twelve-month period ended December 31, 2010 for expenses incurred in the use of patent industrial compared
to other expenses net of Ps. 114 millions in the same period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Income Taxes</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company have recorded an expense net income
tax of Ps. 110 millions in the twelve-month period ended December 31, 2011 (including the income of income tax for Ps.87 million
and the expense of deferred income tax of Ps. 197 millions) compared with an expense net of Ps. 112 millions in the same period
of 2010 (including the income tax deferred of Ps. 47 millions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Income (loss) (Before Non- controlling
Interest)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the foregoing, net income increased
of 341% from Ps. 669 millions in the twelve-month period ended December 31, 2010 to a net income of Ps. 2,952 millions in the same
period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Liquidity and Capital Resources</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2011, Simec&rsquo;s total
consolidated debt consisted of U.S. $302,000 of 8 7/8% medium-term notes (&ldquo;MTN's&rdquo;) due 1998, Ps. 4.2 millions (accrued
interest on December 31, 2011 was U.S. $472,824 or Ps. 6.6 millions). As of December 31, 2010, Simec&rsquo;s total consolidated
debt consisted of U.S. $302,000 of 8 7/8% medium-term notes (&ldquo;MTN's&rdquo;) due 1998, Ps. 3.7 million (accrued interest on
December 31, 2010 was U.S. $445,914, or Ps. 5.5 millions).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comparative fourth quarter 2011 vs third quarter
2011</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net sales increased 2% from Ps. 7,676 millions
in the third quarter of 2011 to Ps. 7,836 million for the fourth quarter of 2011. Sales in tons decreased from 592 thousand ton
in the third quarter of 2011 to 558 thousand ton in the fourth quarter of the same period a decrease of 6%. Total sales outside
of Mexico for the fourth quarter of 2011 decreased 4% from Ps. 4,121 millions in the third quarter to Ps. 3,958 millions in the
four quarter of 2011. Sales in Mexico rose to 3,878 million in the fourth quarter of 2011 compared Ps. 3,555 millions in the third
quarter of 2011 an increase of 9%.<FONT STYLE="font-size: 11pt"> Prices of finished products sold in the fourth quarter of 2011
increased approximately 8% compared to the third quarter of the same period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Cost of Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of sales was of Ps. 6,761 millions in
the fourth quarter of 2011 compared to Ps. 6,789 millions for the third quarter of 2011. With respect to sales, in the fourth quarter
of 2011, the cost of sales represented 86% for the fourth quarter of 2011 while for the third quarter of 2011 was of 88%. The average
cost of sales by ton increased 6% in the fourth quarter of 2011 versus the third quarter of 2011.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Gross Profit</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gross profit of the Company for the fourth
quarter of 2011 increased 21% to Ps.1,075 million compared to Ps. 887 millions in the third quarter of 2011. The gross profit as
a percentage of net sales for the fourth quarter was of 14% and 12% for the third quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>General, Sales and Administrative Expenses</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Selling, general and administrative expenses
increased 49% to Ps. 360 millions in the fourth quarter of 2011 compared to Ps. 241 millions for the third quarter of 2011. Selling,
general and administrative expenses as a percentage of net sales represented 5% during the fourth quarter of 2011 and 3% during
the third quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Operating Income</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating income was of Ps 715 million in the
fourth quarter of 2011 compared to an operating income of Ps. 646 millions in the third quarter of 2011. The operating income as
a percentage of net sales in the fourth represented 9% and the third quarter of 2011 represented 8%.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ebitda</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EBITDA in both quarter its similar from
Ps. 940 millions in the third quarter of 2011 to Ps. 967 millions in the fourth quarter of the same period due to the above explained</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Comprehensive Financial Income (Cost</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comprehensive financial cost for the fourth
quarter for 2011 was a net income of Ps. 260 million compared with a net income of Ps. 495 millions for the third quarter of 2011.
The net interest income in the third quarter of 2011 was of Ps 3 million while in the fourth quarter was a net interest expenses
of Ps. 5 millions. At the same time we registered an exchange net gain of Ps. 492 millions in the third quarter of 2011 compared
with an exchange net gain of Ps. 265 millions in the fourth quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Other Expenses (Income) net </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company recorded other net expense of Ps.
135 millions in the fourth quarter of 2011compared to other net income of Ps. 30 millions for the third quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Income Taxes</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income Taxes for the fourth quarter of 2011
had a net income tax of Ps. 335 million (including an income tax deferred for Ps. 150 millions) compared to an expense of Ps. 468
millions for the third quarter of 2011, (including an expense tax deferred of Ps. 386 millions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Income (loss) (Before Non- controlling
Interest)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the foregoing, the Company had
a net income of Ps. 1,175 millions in the fourth quarter of 2011 compared to Ps. 704 million of net income in the third quarter
of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comparative fourth quarter 2011 vs fourth quarter
2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net sales increased 39% from Ps. 5,635 millions
for the fourth quarter of 2010 to Ps. 7,836 million for the fourth quarter of 2011. Sales in tons of finished steel in the fourth
quarter of 2010 were 522 thousand tons versus to 558 thousand tons in the fourth quarter of 2011. Total sales outside of Mexico
increase 28% from Ps. 3,094 millions for the fourth quarter of 2010 to Ps. 3,958 millions in the fourth quarter of 2011. Sales
in Mexico increase 53% from Ps. 2,541 millions in the fourth quarter of 2010 to Ps. 3,878 millions in the fourth quarter of 2011.
The average sales p<FONT STYLE="font-size: 11pt">rices of finished products sold in the fourth quarter of 2011 increased approximately
30% compared to the fourth quarter of 2010.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Cost of Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of sales increased 32% from Ps. 5,140
millions in the fourth quarter of 2010 compared to Ps. 6,761 million for the fourth quarter of 2011. With respect to sales, in
the fourth quarter of 2011, the cost of sales represented 86% compared to 91% for the fourth quarter of 2010. The average cost
of raw materials used to produce steel products increased 23% in the fourth quarter of 2011 versus the fourth quarter of 2010.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Gross Profit</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gross profit for the fourth quarter of 2011
increased 117% from Ps. 495 millions in the fourth quarter of 2010 compared to an income of Ps. 1,075 millions in the fourth quarter
of 2011. The gross profit as a percentage of net sales for the fourth quarter of 2011 was 14% compared with 9% for the fourth quarter
of 2010.<FONT STYLE="font-size: 11pt"> </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>General, Sales and Administrative Expenses</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Selling, general and administrative expenses
decreased 26% from Ps.487 million in the fourth quarter of 2010 compared to Ps. 360 millions for the fourth quarter of 2011.Selling,
general and administrative expenses as a percentage of net sales represented 5% during the fourth quarter of 2011 and 9% during
the fourth quarter of 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Operating Income</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating income was of Ps.715 million in the
fourth quarter of 2011 compared with Ps. 8 millions in the fourth quarter of 2010. The operating income as a percentage of net
sales in the fourth quarter of 2011 was 9% compared to 0.1% in the fourth quarter of 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Ebitda</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EBITDA from the fourth quarter of 2011
increased 229% from Ps 294 million in the fourth quarter of 2010 to Ps 967 million in the fourth quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Comprehensive Financial Income (Cost</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comprehensive financial cost for the fourth
quarter of 2011 was an income of Ps. 260 million compared with an expense of Ps 119 millions in the fourth quarter of 2010. Net
interest expense was Ps. 5 millions in the fourth quarter of 2011 compared with a net income of Ps. 2 millions in the fourth quarter
of 2010. At the same time we registered a net exchange gain of Ps. 265 millions in the fourth quarter of 2011 compared with an
exchange loss of Ps. 121 millions in the fourth quarter of 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Other Expenses (Income) net </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company recorded other net expense of Ps.
144 millions in the fourth quarter of 2010 for expenses incurred in the use of patent industrial compared with other expenses net
of Ps. 135 million for the fourth quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Income Taxes</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recorded an income taxes for the
fourth quarter of 2011 was an income of Ps. 335 million (including an income of deferred income tax of Ps 150 millions), compared
to a net expense of Ps. 48 millions for the fourth quarter of 2010, (including an income of deferred income tax of Ps. 46 millions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Income (loss) (Before Minority Interest)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the foregoing, net income of
Ps. 1,175 millions in the fourth quarter of 2011 compared to a loss of Ps. 303 million of net income in the fourth quarter of 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 9pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 28%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Millions of pesos</P></TD>
    <TD NOWRAP STYLE="width: 26%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Twelve months ended<BR>
 December 31, 2011</TD>
    <TD NOWRAP STYLE="width: 22%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Twelve months ended<BR>
 December 31, 2010</TD>
    <TD STYLE="width: 24%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">2011</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">vs.</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">2010</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Sales</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29,270</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 24,576</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Cost of Sales</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25,624</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 22,250</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Marginal Profit</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,646</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 2,326</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Operating Expenses</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,054</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 1,152</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9%)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Operating Income</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,592</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 1,174</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">EBITDA</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,593</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 2,272</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Income before Non-Controlling Interest</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,952</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 669</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Sales outside Mexico</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15,654</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 13,777</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Sales in M&eacute;xico</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13,616</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 10,799</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Total sales (tons)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,288</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 2,241</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 90%; font: 9pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 31%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">(Millions of pesos)</TD>
    <TD NOWRAP STYLE="width: 15%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp; 4Q &lsquo;11</TD>
    <TD NOWRAP STYLE="width: 15%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;3Q &lsquo;11</TD>
    <TD NOWRAP STYLE="width: 15%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">&nbsp;&nbsp;&nbsp; 4Q &lsquo;10</TD>
    <TD STYLE="width: 12%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">&nbsp;4Q&acute;11 vs <BR> &nbsp; 3Q'11</TD>
    <TD STYLE="width: 12%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">&nbsp; 4Q&acute;11vs <BR> &nbsp; 4Q&acute;10</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Sales</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 7,836</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 7,676</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 5,635</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; 2%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; 39%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Cost of Sales</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 6,761</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 6,789</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 5,140</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; 0%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; 32%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Marginal Profit</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 1,075</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 887</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;495</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 21%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 117%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Operating Expenses</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 360</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;241</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;487</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 49%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; (26%)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Operating Income</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 715</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 646</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;8</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; &nbsp;&nbsp;11%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;8,838%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">EBITDA</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; &nbsp;&nbsp;&nbsp;967</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; &nbsp;3%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 229%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Income before Non. Controlling&nbsp; Interest</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 1,175</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 704</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; (303)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 67%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;(488%)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Sales outside Mexico</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 3,958</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 4,121</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 3,094</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; (4%)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; 28%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Sales in M&eacute;xico</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 3,878</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 3,555</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 2,541</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 9%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; 53%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Total sales (tons)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 558</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; (6%)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 123px; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Product</P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Thousands of tons twelve
    months ended December 31, 2011</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Million of pesos twelve months ended December 31, 2011</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Average price per ton twelve months ended December 31, 2011</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Thousands of tons twelve
    months ended December 31, 2010</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Million of pesos twelve months ended December 31, 2010</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Average price per ton twelve months ended December 31, 2010</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">SBQ</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 1,380</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 19,659</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 14,246</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 1,187</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 15,194</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 12,800</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Light Structural</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 908</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp; 9,611</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 10,585</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 1,054</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; 9,382</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; 8,901</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Total</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 2,288</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 29,270</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 12,793</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 2,241</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 24,576</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 10,967</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Product</TD>
    <TD STYLE="width: 10%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Thousands of tons</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">4Q '11</P></TD>
    <TD STYLE="width: 8%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Millions of pesos</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">4Q'11</P></TD>
    <TD STYLE="width: 10%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Average price per ton 4Q'11</TD>
    <TD STYLE="width: 9%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Thousands of tons</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">3Q '11</P></TD>
    <TD STYLE="width: 7%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Millions of pesos</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">3Q'11</P></TD>
    <TD STYLE="width: 11%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Average price per ton 3Q'11</TD>
    <TD STYLE="width: 7%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt"> Thousands of tons&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4Q'10&nbsp;</TD>
    <TD STYLE="width: 10%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Millions of pesos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4Q'10</TD>
    <TD STYLE="width: 5%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 8pt">Average price per ton&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4Q'10</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">SBQ</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 318</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 5,011</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 15,758</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 344</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;5,038</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 14,645</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 261</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;3,187</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 12,211</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Light Structural</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 240</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 2,825</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 11,771</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 248</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;2,638</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 10,637</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 261</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;2,448</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp; 9,379</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Total</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 558</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 7,836</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 14,042</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 592</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;7,676</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 12,966</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 522</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;5,635</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 10,795</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Any forward-looking information contained herein is inherently
subject to various risks, uncertainties and assumptions which, if incorrect, may cause actual results to vary materially from those
anticipated, expected or estimated. The company assumes no obligation to update any forward-looking information</I> <I>contained
herein.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER: </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSOLIDATED FINANCIAL STATEMENT</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">AT DECEMBER 31 OF 2011 AND 2010</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">REF</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">S</P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">CONCEPTS</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">CURRENT YEAR</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 54%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 13%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">%</TD>
    <TD STYLE="width: 9%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 8%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s01</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">TOTAL ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">31,269,466</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">27,120,746</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s02</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">CURRENT ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">16,200,861</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">52</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">13,410,752</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">49</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s03</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">CASH AND SHORT-TERM INVESTMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">6,537,088</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">21</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,384,917</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">12</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s04</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">ACCOUNTS AND NOTES RECEIVABLE (NET)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,031,679</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,465,208</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">9</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s05</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER ACCOUNTS AND NOTES RECEIVABLE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">677,989</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">857,485</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s06</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INVENTORIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">5,760,120</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">18</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">6,606,922</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">24</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s07</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER CURRENT ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">193,985</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">96,220</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s08</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">LONG-TERM</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s09</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">ACCOUNTS AND NOTES RECEIVABLE (NET)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">INVESTMENT IN SHARES OF NON-CONSOLIDATED</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">SUBSIDIARIES AND ASSOCIATES</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s11</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER INVESTMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s12</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">PROPERTY, PLANT AND EQUIPMENT (NET)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">9,475,562</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">30</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">9,453,237</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">35</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s13</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">LAND AND BULIDINGS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4,171,787</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,800,468</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">14</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s14</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">MACHINERY AND INDUSTRIAL EQUIPMENT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13,935,986</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">45</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13,111,559</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">48</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s15</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER EQUIPMENT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">267,596</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">233,810</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s16</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">ACCUMULATED DEPRECIATION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">8,977,962</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">29</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">8,180,035</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">30</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s17</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">CONSTRUCTION IN PROGRESS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">78,155</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">487,435</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s18</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER INTANGIBLE ASSETS AND&nbsp; DEFERRED ASSETS (NET)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,801,003</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">12</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4,101,141</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">15</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s19</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,792,040</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">6</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">155,616</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s20</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">TOTAL LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">7,000,643</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">6,662,996</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s21</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">CURRENT LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,822,757</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">55</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,898,606</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">59</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s22</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">SUPPLIERS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,294,701</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">33</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,162,801</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">32</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s23</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">BANK LOANS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s24</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">STOCK MARKET LOANS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4,225</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,732</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s103</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER LOANS WITH COST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">707,453</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">602,168</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">9</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s25</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">TAXES PAYABLE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">246,247</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">434,220</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">7</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s26</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER CURRENT LIABILITIES WITHOUT COST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">570,131</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">8</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">695,685</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">10</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s27</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">LONG-TERM LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s28</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">BANK LOANS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s29</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">STOCK MARKET LOANS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s30</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER LOANS WITH COST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s31</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">DEFERRED LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s32</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER NON-CURRENT LIABILITIES WITHOUT COST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,177,886</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">45</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,764,390</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">41</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s33</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">CONSOLIDATED STOCKHOLDERS&rsquo; EQUITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">24,268,823</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">20,457,750</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s34</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">MINORITY INTEREST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,175,858</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">9</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,784,438</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">9</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s35</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">MAJORITY INTEREST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">22,092,965</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">91</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">18,673,312</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">91</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s36</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">CONTRIBUTED CAPITAL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">8,350,900</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">34</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">8,350,900</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">41</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">S79</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">CAPITAL STOCK</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4,142,696</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">17</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4,142,696</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">20</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s39</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">PREMIUM ON ISSUANCE OF SHARES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4,208,204</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">17</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4,208,204</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s40</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s41</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">EARNED CAPITAL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">13,742,065</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">57</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">10,322,412</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">50</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s42</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">RETAINED EARNINGS AND CAPITAL RESERVES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">12,942,705</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">53</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">9,979,248</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">49</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s44</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER ACCUMULATED COMPREHENSIVE RESULT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">799,360</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">343,164</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s80</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">SHARES REPURCHASED</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
</TABLE>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER:</FONT> 4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSOLIDATED FINANCIAL STATEMENT</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">BREAKDOWN OF MAIN CONCEPTS</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>S</B></P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CONCEPTS</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 54%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s03</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">CASH AND SHORT-TERM INVESTMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">6,537,088</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,384,917</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s46</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">CASH</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,495,928</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">23</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">769,399</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">23</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s47</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">SHORT-TERM INVESTMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">5,041,160</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">77</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,615,518</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">77</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s07</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER CURRENT ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">193,985</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">96,220</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s81</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DERIVATIVE FINANCIAL INSTRUMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s82</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DISCONTINUED OPERATIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s83</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">193985</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">96,220</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s18</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER INTANGIBLE ASSETS AND DEFERRED ASSETS (NET)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,801,003</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4,101,141</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s48</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DEFERRED EXPENSES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,848,171</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">49</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,275,568</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">55</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s49</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">GOODWILL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,814,160</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">48</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,814,160</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">44</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s51</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">138,672</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">11,413</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s19</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,792,040</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">155,616</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s84</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INTANGIBLE ASSET FROM LABOR OBLIGATIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s85</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DERIVATIVE FINANCIAL INSTRUMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s50</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DEFERRED TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s86</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DISCONTINUED OPERATIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s87</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,792,040</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">155,616</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s21</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">CURRENT LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,822,757</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,898,606</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s52</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">FOREIGN CURRENCY LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,005,735</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">79</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,777,231</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">71</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s53</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">MEXICAN PESOS LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">817,022</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">21</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,121,375</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">29</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s26</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER CURRENT LIABILITIES WITHOUT COST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">570,131</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">695,685</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s88</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DERIVATIVE FINANCIAL INSTRUMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">35,456</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">6</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">79,708</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">11</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s89</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INTEREST LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">6,615</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">5,486</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s68</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">PROVISIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s90</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DISCONTINUED OPERATIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s58</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER CURRENT LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">528,060</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">93</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">610,491</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">88</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s27</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">LONG-TERM LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s59</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">FOREIGN CURRENCY LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s60</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">MEXICAN PESOS LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s31</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">DEFERRED LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s65</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">NEGATIVE GOODWILL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s67</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s32</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER NON CURRENT LIABILITIES WITHOUT COST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,177,886</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,764,390</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s66</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DEFERRED TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,071,885</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">97</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,668,054</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">97</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s91</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER LIABILITIES IN RESPECT OF SOCIAL INSURANCE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">57,814</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">45,333</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s92</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DISCONTINUED OPERATIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s69</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">48,187</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">51,003</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s79</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">CAPITAL STOCK</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4,142,696</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4,142,696</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s37</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">CAPITAL STOCK (NOMINAL)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,420,230</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">58</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,420,230</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">58</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s69</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">RESTATEMENT OF CAPITAL STOCK</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,722,466</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">42</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,722,466</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">42</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <DIV STYLE="margin-bottom: 6pt">&nbsp;</DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 45%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER:</FONT> 4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011 </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSOLIDATED FINANCIAL STATEMENT</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">BREAKDOWN OF MAIN CONCEPTS</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>S</B></P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CONCEPTS</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 54%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s42</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">RETAINED EARNINGS AND CAPITAL RESERVES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">12,942,705</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">9,979,248</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s93</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">LEGAL RESERVE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s43</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">RESERVE FOR REPURCHASE OF SHARES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">200,612</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">200,612</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s94</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER RESERVES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s95</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">RETAINED EARNINGS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">9,879,666</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">76</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">8,875,093</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">89</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s45</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">NET INCOME FOR THE YEAR</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,862,427</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">22</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">903,543</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">9</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">s44</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER ACCUMULATED COMPREHENSIVE RESULT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">799,360</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">343,164</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s70</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">ACCUMULATED MONETARY RESULT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s71</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">RESULT FROM HOLDING NON-MONETARY ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s96</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">CUMULATIVE RESULT FROM FOREIGN CURRENCY TRANSLATION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">824,805</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">103</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">406,513</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">118</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s97</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">CUMULATIVE RESULT FROM DERIVATIVE FINANCIAL INSTRUMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">(25,445)</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">(3)</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">(63,349)</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">(18)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s98</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">CUMULATIVE EFFECT OF DEFERRED INCOME TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s99</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">LABOR OBLIGATION ADJUSTMENT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">s100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>



<!-- Field: Page; Sequence: 11 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 41%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER:</FONT> 4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>BALANCE SHEETS</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">OTHER CONCEPTS</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>S</B></P></TD>
    <TD STYLE="width: 52%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CONCEPTS</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">S72</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">WORKING CAPITAL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">12,378,104</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">9,512,146</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">S73</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PENSIONS FUND AND SENIORITY PREMIUMS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">S74</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">EXECUTIVES (*)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">54</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">54</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">S75</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">EMPLOYERS (*)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,519</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,443</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">S76</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">WORKERS (*)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,113</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,864</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">S77</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">COMMON SHARES (*)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">497,709,214</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">497,709,214</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">S78</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">REPURCHASED SHARES (*)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">S101</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">RESTRICTED CASH</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">S102</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET DEBT OF NON CONSOLIDATED COMPANIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">707,453</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">602,168</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(*) THESE ITEMS SHOULD BE EXPRESSED IN UNITS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 12 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 55%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER:</FONT> 4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>STATEMENTS OF INCOME</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">FROM JANUARY 1 TO DECEMBER 31 OF 2011 AND 2010</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>R</B></P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CATEGORIES</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 54%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r01</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">NET SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">29,270,498</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">24,576,436</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r02</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">COST OF SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">25,624,612</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">88</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">20,529,666</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">84</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r03</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">GROSS PROFIT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,645,886</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">12</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4,046,770</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">16</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r04</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OPERATING EXPENSES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,054,152</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,961,944</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">12</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r05</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OPERATING INCOME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,591,734</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">9</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,084,826</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r08</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER INCOME AND (EXPENSE), NET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(113,706)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(186,078)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r06</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">COMPREHENSIVE FINANCING RESULT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">584,040</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(207,497)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r12</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">EQUITY IN NET INCOME OF NON-CONSOLIDATED SUBSIDIARIES AND ASSOCIATES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r48</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">NON ORDINARY ITEMS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r09</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">INCOME BEFORE INCOME TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,062,068</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">691,251</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INCOME TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">109,837</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">86,314</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r11</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,952,231</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">604,937</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r14</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DISCONTINUED OPERATIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r18</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">NET CONSOLIDATED INCOME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,952,231</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">604,937</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r19</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">NET INCOME OF MINORITY INTEREST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">89,804</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(298,606)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(1)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r20</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">NET INCOME OF MAJORITY INTEREST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,862,427</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">903,543</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 13 -->
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 47%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER:</FONT> 4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>STATEMENTS OF INCOME</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">BREAKDOWN OF MAIN CONCEPTS</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>R</B></P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CONCEPTS</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 54%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r01</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">NET SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">29,270,498</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">24,576,436</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r21</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DOMESTIC</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13,616,862</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">47</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">10,799,739</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">44</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r22</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">FOREIGN</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">15,653,636</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">53</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13,776,697</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">56</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r23</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">TRANSLATED INTO DOLLARS (***)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,118,884</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,114,881</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">5</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r08</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER INCOME AND (EXPENSE), NET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(113,706)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(186,078)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r49</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER INCOME AND (EXPENSE), NET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(113,706)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(186,078)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r34</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">EMPLOYEES&rsquo; PROFIT SHARING EXPENSES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r35</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DEFERRED EMPLOYEES&rsquo; PROFIT SHARING</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r06</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">COMPREHENSIVE FINANCING RESULT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">584,040</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(207,497)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r24</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INTEREST EXPENSE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">23,725</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">12,315</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(6)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r42</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">GAIN (LOSS) ON RESTATEMENT OF UDI&rsquo;S</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r45</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER FINANCE COSTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r26</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INTEREST INCOME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">26,135</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">12,058</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(6)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r46</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER FINANCIAL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r25</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">FOREIGN EXCHANGE GAIN (LOSS), NET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">581,630</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(207,240)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r28</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">RESULT FROM MONETARY POSITION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INCOME TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">109,837</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">86,314</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r32</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INCOME TAX</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(86,837)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(79)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">158,043</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">183</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r33</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DEFERRED INCOME TAX</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">196,674</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">179</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(71,729)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(83)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(***) THOUSANDS OF DOLLARS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 62%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 38%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER: </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>STATEMENTS OF INCOME</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">OTHER CONCEPTS</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>R</B></P></TD>
    <TD STYLE="width: 52%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CONCEPTS</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">r36</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">TOTAL SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">29,554,022</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">25,795,696</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">r37</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">TAX RESULT FOR THE YEAR</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">r38</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET SALES (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">29,270,498</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">24,576,436</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">r39</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">OPERATION INCOME (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,591,734</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,084,826</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">r40</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET INCOME OF MAJORITY INTEREST (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,862,427</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">903,543</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">r41</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET CONSOLIDATED INCOME (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,952,231</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">604,937</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">r47</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">OPERATIVE DEPRECIATION AND AMORTIZATION&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,001,098</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,098,208</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(**) RESTATED INFORMATION FOR THE LAST TWELVE MONTHS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 45%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER: </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>QUARTERLY STATEMENTS OF INCOME</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">FROM OCTOBER 1 TO DECEMBER 31 OF 2011 AND 2010</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>R</B></P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CATEGORIES</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 54%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r01</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">NET SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">7,836,347</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">5,634,869</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r02</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">COST OF SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">6,761,453</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">86</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4,246,443</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">75</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r03</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">GROSS PROFIT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,074,894</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">14</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,388,426</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r04</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OPERATING EXPENSES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">360,132</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">5</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,403,034</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r05</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OPERATING INCOME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">714,762</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">9</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(14,608)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r08</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER INCOME AND (EXPENSE), NET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(135,443)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(2)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(144,180)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(3)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r06</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">COMPREHENSIVE FINANCING RESULT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">260,516</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(119,345)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(2)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r12</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">EQUITY IN NET INCOME OF NON-CONSOLIDATED SUBSIDIARIES AND ASSOCIATES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r48</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">NON ORDINARY ITEMS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r09</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">INCOME BEFORE INCOME TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">839,835</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">11</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(278,133)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(5)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INCOME TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(335,171)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(4)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">41,678</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r11</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,175,006</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">15</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(319,811)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(6)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r14</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DISCONTINUED OPERATIONS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">r18</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">NET CONSOLIDATED INCOME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,175,006</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">15</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(319,811)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(6)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r19</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">NET INCOME OF MINORITY INTEREST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(41,367)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(154,611)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(3)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">r20</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">NET INCOME OF MAJORITY INTEREST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,216,373</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">16</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(165,200)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(3)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 45%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER: </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>QUARTERLY STATEMENTS OF INCOME</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">BREAKDOWN OF MAIN CONCEPTS</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>R</B></P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CONCEPTS</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 54%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="width: 10%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">rt01</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">NET SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">7,836,347</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">5,634,869</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt21</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DOMESTIC</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,878,375</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">49</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,540,761</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">45</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt22</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">FOREIGN</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,957,972</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">51</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,094,108</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">55</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt23</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">TRANSLATED INTO DOLLARS (***)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">280,740</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">250,391</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">rt08</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">OTHER INCOME AND (EXPENSE), NET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(135,443)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(144,180)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt49</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER INCOME AND (EXPENSE), NET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(135,443)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(144,180)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt34</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">EMPLOYEES&rsquo; PROFIT SHARING EXPENSES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt35</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DEFERRED EMPLOYEES&rsquo; PROFIT SHARING</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">rt06</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">COMPREHENSIVE FINANCING RESULT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">260,516</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(119,345)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt24</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INTEREST EXPENSE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13,973</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">5</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,910</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(2)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt42</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">GAIN (LOSS) ON RESTATEMENT OF UDI&rsquo;S</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt45</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER FINANCE COSTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt26</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INTEREST INCOME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">9,158</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,899</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(3)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt46</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OTHER FINANCIAL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt25</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">FOREIGN EXCHANGE GAIN (LOSS), NET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">265,331</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">102</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(121,334)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">102</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt28</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">RESULT FROM MONETARY POSITION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INCOME TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(335,171)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">41,678</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt32</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">INCOME TAX</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(185,244)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">55</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">94,584</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">227</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt33</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">DEFERRED INCOME TAX</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(149,927)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">45</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(52,906)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(127)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(***) THOUSANDS OF DOLLARS</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 45%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER: </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>QUARTERLY STATEMENTS OF INCOME</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">OTHER CONCEPTS</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of Mexican pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RT</B></P></TD>
    <TD STYLE="width: 67%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CONCEPTS</TD>
    <TD STYLE="width: 13%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD STYLE="width: 13%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">rt47</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">OPERATIVE DEPRECIATION AND AMORTIZATION&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">251,776</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">317,970</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 45%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER: </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>STATE OF CASH FLOW DIRECT METHOD)</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">FROM JANUARY 1 TO DECEMBER 31 OF 2011 AND 2010</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>C</B></P></TD>
    <TD STYLE="width: 52%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CONCEPTS</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">ACTIVITIES OF OPERATION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">e01</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">INCOME (LOSS) BEFORE INCOME TAXES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,062,068</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">691,251</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">e02</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">+ (-) ITEMS NOT REQUIRING CASH</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">e03</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">+ (-) ITEMS RELATED TO INVESTING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">449,704</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,100,764</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">e04</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">+ (-) ITEMS RELATED TO FINANCING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">23,725</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13,916</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">e05</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">CASH FLOW BEFORE INCOME TAX</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,535,497</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,805,931</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">e06</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CASH FLOW PROVIDED OR USED IN OPERATION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(581,223)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">420,694</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">e07</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">CASH FLOW PROVIDED OF OPERATING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,954,274</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,226,625</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">INVESTMENT ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">e08</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET CASH FLOW FROM INVESTING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(440,065)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(678,929)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">e09</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">CASH FLOW AFTER INVESTING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,514,209</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,547,696</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">FINANCING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">e10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET CASH FROM FINANCING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(140,079)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">e11</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>2,514,222</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>1,407,617</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">e12</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TRANSLATION DIFFERENCES IN CASH AND CASH EQUIVALENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>637,949</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>28,400</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">e13</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CASH AND CASH EQUIVALENTS AT THE BEGINNING OF PERIOD</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,384,917</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,948,900</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">e14</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">CASH AND CASH EQUIVALENTS AT THE END OF PERIOD</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">6,537,088</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,384,917</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 45%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER: </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>STATE OF CASH FLOW (INDIRECT METHOD)</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">BREAKDOWN OF MAIN CONCEPTS</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(thousands of pesos)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>C</B></P></TD>
    <TD STYLE="width: 52%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">CONCEPTS</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">CURRENT YEAR</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">PREVIOUS YEAR</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">AMOUNT</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">e02</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold">+ (-) ITEMS NOT REQUIRING CASH</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e15</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ ESTIMATES FOR THE PERIOD</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e16</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ PROVISIONS FOR THE PERIOD</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e17</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) OTHER UNREALIZED ITEMS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">e03</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold">+ (-) ITEMS RELATED TO INVESTING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">449,704</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">1,100,764</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e18</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+&nbsp;&nbsp; DEPRECIATION AND AMORTIZATION FOR THE PERIOD</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">1,001,098</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">1,098,208</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e19</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) + GAIN OR LOSS ON SALE PROPERTY, PLANT AND EQUIPMENT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e20</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ IMPAIRMENT LOSS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e21</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) + EQUITY IN RESULTS OF ASSOCIATES AND JOINT VENTURES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e22</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) DIVIDENDS RECEIVED</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e23</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) INTEREST INCOME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(26,135)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(12,058)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e24</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) + OTHER ITEMS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(525,259)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">14,614</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">e04</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold">+ (-) ITEMS RELATED TO FINANCING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">23,725</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">13,916</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e25</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ ACCRUED INTEREST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">23,725</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">13,916</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e26</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) OTHER ITEMS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">e06</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold">CASH FLOW PROVIDED OR USED IN OPERATION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">(581,223)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">420,694</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e27</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) DECREASE (INCREASE) IN ACCOUNTS RECEIVABLE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(431,775)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(336,840)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e28</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) DECREASE (INCREASE) IN INVENTORIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">15,095</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(86,034)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e29</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-)DECREASE (INCREASE) IN IN OTHER ACCOUNT RECEIVABLES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">365,017</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">267,744</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e30</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) INCREASE DECREASE IN SUPPLIERS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(45,518)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">331,836</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e31</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-)INCREASE DECREASE IN OTHER LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(477,120)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(79,386)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e32</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) INCOME TAXES PAID OR RETURNED</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(6,922)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">323,374</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">e08</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold">NET CASH FLOW FROM INVESTING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">(440,065)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">(678,929)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e33</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) PERMANENT INVESTMENT IN SHARES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(187,433)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e34</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ DISPOSITION OF PERMANENT INVESTMENT IN SHARES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e35</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) INVESTMENT IN PROPERTY PLANT AND EQUIPMENT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(432,000)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(496,361)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e36</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ SALE OF PROPERTY PLANT AND EQUIPMENT</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e37</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) INVESTMENT IN INTANGIBLE ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e38</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ DISPOSITION OF INTANGIBLE ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e39</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ OTHER PERMANENT INVESTMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e40</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ DISPOSITION OF OTHER PERMANENT INVESTMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e41</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ DIVIDEND RECEIVED</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e42</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ INTEREST RECEIVED</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">26,135</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">12,058</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e43</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) DECREASE (INCREASE) ADVANCES AND LOANS TO THIRD PARTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e44</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) OTHER ITEMS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(34,200)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(7,193)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: center">e10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold">NET CASH FRON FINANCING ACTIVITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">13</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; font-weight: bold; text-align: right">(140,079)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e45</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ BANK FINANCING</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e46</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ STOCK MARKET FINANCING</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e47</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ OTHER FINANCING</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">74,963</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">323,720</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e48</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) BANK FINANCING AMORTIZATION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(8,656)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e49</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) STOCK MARKET FINANCING AMORTIZATION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e50</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) OTHER FINANCING AMORTIZATION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(51,225)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(442,688)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e51</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) INCREASE (DECREASE ) IN CAPITAL STOCK</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e52</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) DIVIDENS PAID</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e53</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ PREMIUM ON ISSUANCE OF SHARES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e54</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e55</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) INTEREST EXPENSE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(23,725)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">(12,455)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e56</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">(-) REPURCHASE OF SHARES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: center">e57</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt">+ (-) OTHER ITEMS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 7pt; text-align: right">0</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 45%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER: </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD>
</TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DATE PER SHARE</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>D</B></P></TD>
    <TD STYLE="width: 52%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CATEGORIES</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>QUARTER OF PRESENT</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FINANCIAL YEAR</B></P></TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>QUARTER OF PREVIOUS</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FINANCIAL YEAR</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d01</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">BASIC PROFIT PER ORDINARY SHARE (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$&nbsp;&nbsp; 5.75</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$ 1.81</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d02</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">BASIC PROFIT PER PREFERRED SHARE (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$&nbsp;&nbsp; 0.00</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$&nbsp;&nbsp; 0.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d03</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">DILUTED PROFIT PER ORDINARY SHARE (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$&nbsp;&nbsp; 0.00</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$&nbsp;&nbsp; 0.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d04</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">EARNINGS (LOSS) BEFORE DISCONTINUED OPERATIONS PER COMMON SHARE (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">$ 5.75</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">$ 1.81</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d05</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">DISCONTINUED OPERATIONS EFFECT ON EARNING (LOSS) PER SHARE (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">$ 0.00</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">$ 0.00</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d08</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CARRYING VALUE PER SHARE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$ 44.39</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$ 37.52</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d09</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CASH DIVIDEND ACCUMULATED PER SHARE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$&nbsp;&nbsp; 0.00</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">$&nbsp;&nbsp; 0.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">DIVIDEND IN SHARES PER SHARE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00 shares</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00 shares</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d11</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">MARKET PRICE TO CARRYING VALUE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.69 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.79 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d12</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">MARKET PRICE TO BASIC PROFIT PER ORDINARY SHARE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.84 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17.93 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">d13</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">MARKET PRICE TO BASIC PROFIT PER PREFERENT SHARE (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00 times</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(**) TO CALCULATE THE DATE PER SHARE USE THE NET INCOME FOR THE
LAST TWELVE MONTHS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 55%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 45%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER: </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RATIOS</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REF</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>P</B></P></TD>
    <TD STYLE="width: 52%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CATEGORIES</TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>QUARTER OF PRESENT</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FINANCIAL YEAR</B></P></TD>
    <TD STYLE="width: 21%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>QUARTER OF PREVIOUS</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FINANCIAL YEAR</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">YIELD</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p01</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET INCOME TO NET SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">10.09%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2.46%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p02</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET INCOME TO STOCKHOLDERS&rsquo; EQUITY (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">12.16%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2.96%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p03</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET INCOME TO TOTAL ASSETS (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">9.44%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2.23%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p04</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CASH DIVIDENDS TO PREVIOUS YEAR NET INCOME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.00%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.00%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p05</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">INCOME DUE TO MONETARY POSITION TO NET INCOME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.00%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.00%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">ACTIVITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p06</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET SALES TO NET ASSETS (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.94 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.91 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p07</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET SALES TO FIXED ASSETS (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">3.09 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2.60 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p08</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">INVENTORIES TURNOVER (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">4.45 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">3.11 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p09</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">ACCOUNTS RECEIVABLE IN DAYS OF SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">32 days</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">31 days</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PAID INTEREST TO TOTAL LIABILITIES WITH COST (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">3.33%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2.03%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">LEVERAGE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p11</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">TOTAL LIABILITIES TO TOTAL ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">22.39%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">24.57%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p12</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">TOTAL LIABILITIES TO STOCKHOLDERS&rsquo; EQUITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.29 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.33 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p13</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">FOREIGN CURRENCY LIABILITIES TO TOTAL LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">42.94%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">41.68%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p14</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">LONG-TERM LIABILITIES TO FIXED ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.00%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.00%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p15</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">OPERATING INCOME TO INTEREST PAID</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">109.24 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">88.09 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p16</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">NET SALES TO TOTAL LIABILITIES (**)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">4.18 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">3.69 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">LIQUIDITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p17</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CURRENT ASSETS TO CURRENT LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">4.24 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">3.44 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p18</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CURRENT ASSETS LESS INVENTORY TO CURRENT LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2.73 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1.75 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p19</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CURRENT ASSETS TO TOTAL LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2.31 times</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2.01 times</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">p20</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">AVAILABLE ASSETS TO CURRENT LIABILITIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">171.00%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">86.82%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 63%; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B> </TD>
    <TD STYLE="width: 37%; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">QUARTER: 4<B> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YEAR: <B>2011</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DIRECTOR REPORT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS AUDITED FOR THE YEAR
OF 2011 AND 2010</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">GUADALAJARA, MEXICO, May 4, 2012- Grupo Simec,
S.A.B. de C.V. (AMEX: SIM) (&ldquo;Simec&rdquo;) <FONT STYLE="font-size: 11pt">announced today its results of operations Audited
for the twelve-month period ended December 31, 2011 and December 31, 2010</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Twelve-Month Period Ended December 31, 2011
compared to Twelve-Month Period Ended December 31, 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: justify">We reclassified indirect cost in 2010 from
selling, general and administrative expenses to Inventories and Cost Sales according with the full cost, issued by the Mexican
Financial Reporting Standards &ldquo;MFRS&rdquo; for purposes of comparability with 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net sales increased 19% by the combination
of higher sales of Special Bars &ldquo;SBQ&rdquo;, shipments of finished steel products and the increase of the average sales price
per ton of 17% compared versus the same period of 2010, the sale rose from Ps. 24,576 millions in the twelve-month period ended
December 31, 2010 to Ps. 29,270 millions in the same period of 2011. Shipments of finished steel products increase 2% to 2 million
288 thousand tons in the twelve-month period ended December 31, 2011 compared to 2 million 241 thousand tons in the same period
of 2010. Total sales outside <FONT STYLE="font-size: 11pt">of Mexico in the twelve-month period ended December 31, 2011 increased
14% to Ps. 15,654 million compared with Ps. 13,777 millions in the same period of 2010. Total sales in Mexico increased 26% from
Ps. 10,799 millions in the twelve-month period ended December 31, 2010 to Ps. 13,616 millions in the same period of 2011. The increase
in sales is due to an increase shipments during the twelve-month period ended December 31, 2011, compared to the same period in
2010 (47 thousand tons), increase in SBQ shipment in 193 thousand tons, and the increase of the average sales price of 17%. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Cost of Sales</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of sales increased 15% from Ps. 22,250
millions in the twelve-month period ended December 31, 2010 to Ps. 25,624 millions in the same period of 2011. Cost of sales as
a percentage of net sales in the twelve months ended on December 31 of 2011 and 2010, cost of sales represented 88 and 91% respectively.
The average cost of finished steel produced in the twelve-month period ended December 31, 2011 compared to the same period of 2010
increased approximately 13% by a higher of SBQ sales and increase of shipment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Gross Profit</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gross profit of the Company in the twelve<FONT STYLE="font-size: 11pt">-month
period ended December 30,</FONT> 2011 was of Ps. 3,646 million compared to Ps. 2,326 millions in the same period of 2010. Gross
profit as a percentage of net sales represented 12% and 9% in 2011 and 2010 respectively. <FONT STYLE="font-size: 11pt">The increase
in the gross profit is attributed to an increase in the volume shipment, better blend of steel compared with the same period of
2010.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>General, Sales and Administrative Expenses</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Selling, general and administrative expenses
decreased 9% from Ps. 1,152 millions in the twelve<FONT STYLE="font-size: 11pt">-month period ended December 31,</FONT> 2010 to
Ps. 1,054 millions in the same period of 2011, representing 4% and 5% respect of net sales in the twelve<FONT STYLE="font-size: 11pt">-month
period ended December </FONT>2011 and 2010 respectively.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Operating Income</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating income increased 121% from Ps. 1,174
million for the twelve<FONT STYLE="font-size: 11pt">-month period ended December 31,</FONT> 2010 to Ps. 2,592 millions in the same
period of 2011. Operating income as a percentage of net sales was 9% in the twelve<FONT STYLE="font-size: 11pt">-month period ended
December 31,</FONT> 2011 compared with 5% in the same period of 2010. <FONT STYLE="font-size: 11pt">The increase in operating income
is due to an increase in shipments, increase in sales of SBQ and better average sales price per ton.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">EBITDA</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EBITDA of the Company increase 58% from
Ps. 2,272 millions in the twelve-month prior ended December 31, of 2010, to Ps.3,593 millions in the same period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Comprehensive Financial Cost.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comprehensive financial cost in the twelve-month
period ended December 31, 2011 represented a net income of Ps. 584 million compared with a net expense of Ps. 207 millions in the
same period of 2010. The net interest was an income of Ps 2 million in 2011 compared with a net interest of Ps. zero in the twelve-month
period ended December 31, 2010. So it, we registered a net exchange gain net of Ps. 582 millions in the twelve<FONT STYLE="font-size: 11pt">-month
period ended December 31,</FONT> 2011 compared with a net exchange loss of Ps. 207 millions in the same period of 2010, reflecting
a 13% decrease in the value of the peso versus the dollar in the twelve-month period ended December 31, 2011 compared to December
31, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Other Expenses (Income) net </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company recorded other net expenses of
Ps. 186 millions in the twelve-month period ended December 31, 2010 for expenses incurred in the use of patent industrial compared
to other expenses net of Ps. 114 millions in the same period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Income Taxes</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company have recorded an expense net income
tax of Ps. 110 millions in the twelve-month period ended December 31, 2011 (including the income of income tax for Ps.87 million
and the expense of deferred income tax of Ps. 197 millions) compared with an expense net of Ps. 112 millions in the same period
of 2010 (including the income tax deferred of Ps. 47 millions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Income (loss) (Before Non- controlling
Interest)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the foregoing, net income increased
of 341% from Ps. 669 millions in the twelve-month period ended December 31, 2010 to a net income of Ps. 2,952 millions in the same
period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Liquidity and Capital Resources</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2011, Simec&rsquo;s total
consolidated debt consisted of U.S. $302,000 of 8 7/8% medium-term notes (&ldquo;MTN's&rdquo;) due 1998, Ps. 4.2 millions (accrued
interest on December 31, 2011 was U.S. $472,824 or Ps. 6.6 millions). As of December 31, 2010, Simec&rsquo;s total consolidated
debt consisted of U.S. $302,000 of 8 7/8% medium-term notes (&ldquo;MTN's&rdquo;) due 1998, Ps. 3.7 million (accrued interest on
December 31, 2010 was U.S. $445,914, or Ps. 5.5 millions).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comparative fourth quarter 2011 vs third quarter
2011</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net sales increased 2% from Ps. 7,676 millions
in the third quarter of 2011 to Ps. 7,836 million for the fourth quarter of 2011. Sales in tons decreased from 592 thousand ton
in the third quarter of 2011 to 558 thousand ton in the fourth quarter of the same period a decrease of 6%. Total sales outside
of Mexico for the fourth quarter of 2011 decreased 4% from Ps. 4,121 millions in the third quarter to Ps. 3,958 millions in the
four quarter of 2011. Sales in Mexico rose to 3,878 million in the fourth quarter of 2011 compared Ps. 3,555 millions in the third
quarter of 2011 an increase of 9%.<FONT STYLE="font-size: 11pt"> Prices of finished products sold in the fourth quarter of 2011
increased approximately 8% compared to the third quarter of the same period.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Cost of Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of sales was of Ps. 6,761 millions in
the fourth quarter of 2011 compared to Ps. 6,789 millions for the third quarter of 2011. With respect to sales, in the fourth quarter
of 2011, the cost of sales represented 86% for the fourth quarter of 2011 while for the third quarter of 2011 was of 88%. The average
cost of sales by ton increased 6% in the fourth quarter of 2011 versus the third quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Gross Profit</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gross profit of the Company for the fourth
quarter of 2011 increased 21% to Ps.1,075 million compared to Ps. 887 millions in the third quarter of 2011. The gross profit as
a percentage of net sales for the fourth quarter was of 14% and 12% for the third quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>General, Sales and Administrative Expenses</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Selling, general and administrative expenses
increased 49% to Ps. 360 millions in the fourth quarter of 2011 compared to Ps. 241 millions for the third quarter of 2011. Selling,
general and administrative expenses as a percentage of net sales represented 5% during the fourth quarter of 2011 and 3% during
the third quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Operating Income</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating income was of Ps 715 million in the
fourth quarter of 2011 compared to an operating income of Ps. 646 millions in the third quarter of 2011. The operating income as
a percentage of net sales in the fourth represented 9% and the third quarter of 2011 represented 8%.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ebitda</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EBITDA in both quarter its similar from
Ps. 940 millions in the third quarter of 2011 to Ps. 967 millions in the fourth quarter of the same period due to the above explained</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Comprehensive Financial Income (Cost</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comprehensive financial cost for the fourth
quarter for 2011 was a net income of Ps. 260 million compared with a net income of Ps. 495 millions for the third quarter of 2011.
The net interest income in the third quarter of 2011 was of Ps 3 million while in the fourth quarter was a net interest expenses
of Ps. 5 millions. At the same time we registered an exchange net gain of Ps. 492 millions in the third quarter of 2011 compared
with an exchange net gain of Ps. 265 millions in the fourth quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Other Expenses (Income) net </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company recorded other net expense of Ps.
135 millions in the fourth quarter of 2011compared to other net income of Ps. 30 millions for the third quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Income Taxes</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income Taxes for the fourth quarter of 2011
had a net income tax of Ps. 335 million (including an income tax deferred for Ps. 150 millions) compared to an expense of Ps. 468
millions for the third quarter of 2011, (including an expense tax deferred of Ps. 386 millions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Income (loss) (Before Non- controlling
Interest)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the foregoing, the Company had
a net income of Ps. 1,175 millions in the fourth quarter of 2011 compared to Ps. 704 million of net income in the third quarter
of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comparative fourth quarter 2011 vs fourth quarter
2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net sales increased 39% from Ps. 5,635 millions
for the fourth quarter of 2010 to Ps. 7,836 million for the fourth quarter of 2011. Sales in tons of finished steel in the fourth
quarter of 2010 were 522 thousand tons versus to 558 thousand tons in the fourth quarter of 2011. Total sales outside of Mexico
increase 28% from Ps. 3,094 millions for the fourth quarter of 2010 to Ps. 3,958 millions in the fourth quarter of 2011. Sales
in Mexico increase 53% from Ps. 2,541 millions in the fourth quarter of 2010 to Ps. 3,878 millions in the fourth quarter of 2011.
The average sales p<FONT STYLE="font-size: 11pt">rices of finished products sold in the fourth quarter of 2011 increased approximately
30% compared to the fourth quarter of 2010.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Cost of Sales</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of sales increased 32% from Ps. 5,140
millions in the fourth quarter of 2010 compared to Ps. 6,761 million for the fourth quarter of 2011. With respect to sales, in
the fourth quarter of 2011, the cost of sales represented 86% compared to 91% for the fourth quarter of 2010. The average cost
of raw materials used to produce steel products increased 23% in the fourth quarter of 2011 versus the fourth quarter of 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Gross Profit</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gross profit for the fourth quarter of 2011
increased 117% from Ps. 495 millions in the fourth quarter of 2010 compared to an income of Ps. 1,075 millions in the fourth quarter
of 2011. The gross profit as a percentage of net sales for the fourth quarter of 2011 was 14% compared with 9% for the fourth quarter
of 2010.<FONT STYLE="font-size: 11pt"> </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>General, Sales and Administrative Expenses</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Selling, general and administrative expenses
decreased 26% from Ps.487 million in the fourth quarter of 2010 compared to Ps. 360 millions for the fourth quarter of 2011.Selling,
general and administrative expenses as a percentage of net sales represented 5% during the fourth quarter of 2011 and 9% during
the fourth quarter of 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Operating Income</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating income was of Ps.715 million in the
fourth quarter of 2011 compared with Ps. 8 millions in the fourth quarter of 2010. The operating income as a percentage of net
sales in the fourth quarter of 2011 was 9% compared to 0.1% in the fourth quarter of 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Ebitda</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EBITDA from the fourth quarter of 2011
increased 229% from Ps 294 million in the fourth quarter of 2010 to Ps 967 million in the fourth quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Comprehensive Financial Income (Cost</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comprehensive financial cost for the fourth
quarter of 2011 was an income of Ps. 260 million compared with an expense of Ps 119 millions in the fourth quarter of 2010. Net
interest expense was Ps. 5 millions in the fourth quarter of 2011 compared with a net income of Ps. 2 millions in the fourth quarter
of 2010. At the same time we registered a net exchange gain of Ps. 265 millions in the fourth quarter of 2011 compared with an
exchange loss of Ps. 121 millions in the fourth quarter of 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Other Expenses (Income) net </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company recorded other net expense of Ps.
144 millions in the fourth quarter of 2010 for expenses incurred in the use of patent industrial compared with other expenses net
of Ps. 135 million for the fourth quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Income Taxes</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recorded an income taxes for the
fourth quarter of 2011 was an income of Ps. 335 million (including an income of deferred income tax of Ps 150 millions), compared
to a net expense of Ps. 48 millions for the fourth quarter of 2010, (including an income of deferred income tax of Ps. 46 millions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Net Income (loss) (Before Minority Interest)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the foregoing, net income of
Ps. 1,175 millions in the fourth quarter of 2011 compared to a loss of Ps. 303 million of net income in the fourth quarter of 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 30%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Millions of pesos</P></TD>
    <TD NOWRAP STYLE="width: 24%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.1in">Twelve months</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.1in">ended December</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.1in">31, 2011</P></TD>
    <TD NOWRAP STYLE="width: 26%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Twelve months ended <BR>
December 31, 2010</TD>
    <TD STYLE="width: 20%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">2011</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">vs.</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">2010</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Sales</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29,270</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 24,576</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Cost of Sales</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25,624</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 22,250</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Marginal Profit</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,646</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 2,326</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Operating Expenses</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,054</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 1,152</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9%)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Operating Income</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,592</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 1,174</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">EBITDA</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,593</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 2,272</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Income before Non-Controlling Interest</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,952</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 669</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Sales outside Mexico</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15,654</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 13,777</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Sales in M&eacute;xico</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13,616</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 10,799</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Total sales (tons)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,288</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 2,241</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 31%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">(Millions of pesos)</TD>
    <TD NOWRAP STYLE="width: 15%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; 4Q &lsquo;11</TD>
    <TD NOWRAP STYLE="width: 15%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;3Q &lsquo;11</TD>
    <TD NOWRAP STYLE="width: 15%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; 4Q &lsquo;10</TD>
    <TD STYLE="width: 12%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;4Q&acute;11 vs <BR> &nbsp; 3Q'11</TD>
    <TD STYLE="width: 12%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp; 4Q&acute;11vs <BR> &nbsp; 4Q&acute;10</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Sales</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 7,836</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 7,676</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 5,635</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp; 2%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp; 39%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Cost of Sales</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 6,761</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 6,789</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 5,140</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp; 0%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp; 32%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Marginal Profit</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 1,075</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 887</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;495</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; 21%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; 117%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Operating Expenses</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 360</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;487</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; 49%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; (26%)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Operating Income</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 715</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 646</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;8</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; &nbsp;&nbsp;11%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;8,838%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">EBITDA</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; &nbsp;&nbsp;&nbsp;967</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; &nbsp;&nbsp;3%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; 229%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Income before Non. Controlling&nbsp; Interest</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; &nbsp;1,175</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 704</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; (303)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; 67%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;(487%)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Sales outside Mexico</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 3,958</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 4,121</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 3,094</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; (4%)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp; 28%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Sales in M&eacute;xico</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 3,878</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 3,555</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 2,541</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; 9%</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp; 53%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Total sales (tons)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 558</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp; (6%)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 123px; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Product</P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Thousands of tons twelve months ended December 31,2011</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Million of pesos twelve months ended December 31, 2011</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Average price per ton twelve months ended December 31, 2011</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Thousands of tons Twelve months ended December 31,2010</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Million of pesos twelve months ended December 31, 2010</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Average price per ton twelve months ended December 31, 2010</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">SBQ</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 1,380</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 19,659</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 14,246</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;1,187</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 15,194</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 12,800</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Light Structural</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 908</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp; 9,611</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 10,585</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 1,054</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 9,382</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; 8,901</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt">Total</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 2,288</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 29,270</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 12,793</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 2,241</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 24,576</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 10,967</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Product</TD>
    <TD STYLE="width: 10%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Thousands of tons</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">4Q '11</P></TD>
    <TD STYLE="width: 8%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Millions of pesos</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">4Q'11</P></TD>
    <TD STYLE="width: 9%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Average price per ton 4Q'11</TD>
    <TD STYLE="width: 9%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Thousands of tons</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">3Q '11</P></TD>
    <TD STYLE="width: 7%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Millions of pesos</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">3Q'11</P></TD>
    <TD STYLE="width: 9%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Average price per ton 3Q'11</TD>
    <TD STYLE="width: 9%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; Thousands of tons&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4Q'10&nbsp;</TD>
    <TD STYLE="width: 7%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Millions of pesos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4Q'10</TD>
    <TD STYLE="width: 9%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Average price per ton&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4Q'10</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">SBQ</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 318</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 5,011</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 15,758</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 344</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;5,038</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 14,645</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 261</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;3,187</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 12,211</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">Light Structural</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 240</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 2,825</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 11,771</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 248</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;2,638</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 10,637</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 261</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;2,448</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp;&nbsp; 9,379</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">Total</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 558</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 7,836</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 14,042</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 592</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;7,676</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 12,966</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;&nbsp; 522</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;5,635</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp; 10,795</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Any forward-looking information contained herein is inherently
subject to various risks, uncertainties and assumptions which, if incorrect, may cause actual results to vary materially from those
anticipated, expected or estimated. The company assumes no obligation to update any forward-looking information</I> <I>contained
herein.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 63%; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B> </TD>
    <TD STYLE="width: 37%; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">QUARTER: 4<B> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YEAR: <B>2011</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FINANCIAL STATEMENT NOTES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&#9;</B>CONSOLIDATED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>(1) Operations preparation bases and summary of significant accounting
policies:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Grupo Simec, S.A. B., de C.V. and its Subsidiaries (&ldquo;the Company&rdquo;)
are subsidiaries of Industrias CH, S.A.B., de C.V. (&ldquo;ICH&rdquo;), and their main activities consist of the manufacturing
and sale of steel products primarily destined for the construction and automotive sector of Mexico and other countries.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Significant accounting policies and practices followed by the Companies
which affect the principal captions of the financial statements are described below:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>a. Financial statement presentation </B>- Below is a summary
of the most significant accounting policies and practices used in the preparation of the consolidated financial statements, in
conformity with Mexican Financial Reporting Standards (MFRS), which include Bulletins and Circulars issued by the Accounting Principles
Commission (CPC) of the Mexican Institute of Public Accountants (IMCP) which have not been amended, replaced or abrogated by MFRS
issued by the Mexican Financial Reporting Standards Research and Development Board (Consejo Mexicano para la Investigaci&oacute;n
y Desarrollo de Normas de Informaci&oacute;n Financiera, A.C. (CINIF)..</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent:0pt; text-align: left">All significant intercompany balances and
transactions have been eliminated in consolidation.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>b. Cash and cash equivalents -</B> The Company considers short-term
investments with original maturities not greater than three months to be cash equivalent. Cash equivalents include temporary investments
and Mexican Government Treasury Bonds, and are stated at market value, which approximates cost plus earned interest. Any increase
in market value is credited to operations for the period.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>c. Inventories &ndash;</B> Are valued to the full cost average
by Domestic subsidiaries, and the foreing subsidiaries are valued on a last-in, first-out(LIFO). For translation effects into MFRS
the inventories have been adjusted from LIFO to average full cost system.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Billet finished goods and work in process, have been valued to the
full cost.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Raw materials, materials, supplies and rollers, at the average cost.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The Company presents as non-current inventories certains raw materials
(Coke) rollers and spare parts, which according to historical data and production trends will not be used within a one-year period.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>d.- Derivative financial instruments</B>--
During 2011, 2010 and 2009 the Company used derivative financial instruments for hedging risks associated with natural gas prices
for which it conducted studies on historical consumption, future requirement and commitments acquired, thus diminishing its exposure
to risks other than its normal operating risks.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To mitigate the risks associated with changes
in natural gas prices occurring naturally as a result of the supply and demand on international markets, the Company uses natural
gas cash-flow exchange contracts or natural gas swaps to offset fluctuations in the price of natural gas, whereby the Company receives
a floating price and pays a fixed price. Fluctuations in natural gas prices from volumes consumed are recognized as part of the
Company&rsquo;s operating cost.</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The fair value of these assets or liabilities is restated at the
end of each month based on the new estimate. The Company periodically evaluates the changes in cash flows of the derivative instrument
to analyze if the swaps are highly effective for mitigating the exposure to natural gas price fluctuations. A hedge instrument
is considered to be highly effective when changes in its fair value or cash flows of the primary position are compensated on a
regular or cumulatively basis, by changes in fair value or cash flows of the hedging instrument in a range between 80% and 125%.
In 2011, 2010 and 2009 the fair value of derivatives that did not qualify for hedge accounting was adjusted through Statement of
Income. For the derivatives that qualified for hedge accounting their fair value was adjusted through the Stockholders&rsquo; equity
in the caption Fair value of derivative financial instruments until such time as the related item the derivative hedges is recognized
in income. At that time, the fair value included in Stockholders&rsquo; equity is also recognized in income.The Company is using
derivative financial instruments for hedging risks associated with natural gas prices and conducted studies on historical consumption,
future requirements and commitments; thus it avoided exposure to risks other than the normal operating risks. Management of the
Company examines its financial risks by continually analyzing price, credit and liquidity risks.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>e Property, plant and equipment -</B> Property, plant and equipment
of domestic origin are restated by using factors derived from The National Consumer Price Index (&ldquo;NCPI&rdquo;) from the date
of their acquisition, and imported machinery and equipment are restated by applying devaluation and inflation factors of the country
of origin, until December 31, 2007. Depreciation recorded in the consolidated statement of income (loss) is computed based upon
the estimated useful life and the restated cost of each asset. In addition, Financial expense incurred during the construction
period is capitalized as construction in progress. The estimated useful lives of assets as of September 30, 2011 are as follows:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 4.2in"><U>Years </U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 28.35pt">Buildings...&hellip;........................................................................10
to 65</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 28.35pt">Machinery and equipment
.................................. ...................5 to 40</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 28.35pt">Buildings and improvements
(Republic)&hellip;&hellip;...... &hellip;..&hellip;&hellip;&hellip;&hellip;5 to 25</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 28.35pt">Land improvements
(Republic)&hellip;&hellip;&hellip;&hellip;&hellip;..&hellip;&hellip; ....&hellip;&hellip;&hellip;.. 5 to 25</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 28.35pt">Machinery and equipment (Republic)&hellip;&hellip;..&hellip;&hellip;&hellip;&hellip;......&hellip;&hellip;
5 to 20</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>f. Other assets -</B> Organization and pre-operating expenses
are capitalized and their amortization is calculated by the straight-line method over a period of 20 years.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>g. Seniority premiums and severance payments &ndash;</B> According
to Federal Labor Law, employees are entitled to seniority premiums after fifteen years or more of services. These premiums are
recognized as expenses in the years in which the services are rendered, using actuarial calculations based on the projected unit
credit method, and since 1996 by applying real interest and salary increases.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Any other payments to which employees may be entitled in case of
separation, disability or death, are charged to operations in the period in which they become payable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>h. Pension plan -</B> Until 1995, the Company provided pension
benefits for all personnel with a minimum of 10 years of service and 35 years of age. The Company had established an irrevocable
trust for its contributions, which were based on actuarial calculations. In December 1995, the board of directors of the Company,
in agreement with the trade union, discontinued these benefits and related contributions to the trust fund. This decision was made
because of the new Mexican pension fund system, Administradoras de Fondos para el Retiro, which establishes similar benefits for
the employees. The balance of the trust fund will be applied to the retirement benefits of qualifying employees until the fund
is exhausted due to the irrevocable status of the fund.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The Company does not have any contractual obligation regarding the
payment of pensions of retirements.</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>i. Income taxes - </B>In 1999, the Mexican Institute of
Public Accountants issued Bulletin D-4, &ldquo;Accounting for Income and Asset Taxes and Employee Profit Sharing&rdquo;, which
is effective for all fiscal years beginning January 1, 2000. Bulletin D-4 establishes financial accounting and reporting standards
for the effects of asset tax, income tax and employee profit sharing that result from enterprise activities during the current
and preceding years.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The Company and its subsidiaries are included in the consolidated
tax returns of the company's parent.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>j. Foreign currency transactions and exchange differences &ndash;
</B>All transactions in foreign currency are recorded at the exchange rates prevailing on the date of their execution or liquidation.
Foreign currency denominated assets and liabilities are translated at the exchange rates prevailing at the balance sheet date.
Any exchange differences incurred with regard to assets or liabilities denominated in foreign currency are charged to operations
of the period and are included in financial income (expense) in the accompanying consolidated statements of income (loss).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For consolidation purposes, the financial statements
of the foreign subsidiaries, were translated into pesos in conformity with Mexican accounting Bulletin MFRS B-15, Transactions
in Foreign Currency.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The first step in the process of conversion of financial information
of the operations is the determination of the functional currency, which is in first instance the currency of primary the economic
surroundings of the foreign operation; nevertheless, despite the previous thing, the functional currency can differ from the premises
or registry, in the measurement that this one does not represent the currency that fundamentally affects the cash flow of the operations
abroad. The financial statements of the foreign subsidiaries were turned to Mexican pesos with the following procedure:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Applying the prevailing exchange rate at
the consolidated balance date for monetary assets and liabilities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Applying the prevailing historical exchange
rate for nonmonetary assets and liabilities and for stockholders&rsquo; equity accounts.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Applying the prevailing the historical exchange
rate at the consolidated balance sheet date for revenues and expenses during the reporting period</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- The resulting effect of translation, the
process of consolidation and to apply the participation method, is recorded in stockholders&rsquo; equity under the accumulated
effect by conversion forming part of the Comprehensive Income.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>k. Geographic concentration of credit
risk -</B> The Company sells its products primarily to distributors for the construction industry with no specific geographic concentration.
Additionally, no single customer accounted for a significant amount of the Company's sales, and there were no significant accounts
receivable from a single customer or affiliate at June 30, 2011 sales of ten customers accounted for approximately 40.5% of the
Republic&rsquo;s sales. The Company performs evaluations of its customers' credit histories and establishes and allowance for doubtful
accounts based upon the credit risk of specific customers and historical trends.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>l. Other income (expenses)</B> <B>-</B> Other income (expenses)
shown in the consolidated statements of operations primarily includes other financial operations non recurring.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>(2) Financial Debt:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">As of December 31, 2011, Simec&rsquo;s total consolidated debt consisted
of U.S. $302,000 of 8 7/8% medium-term notes (&ldquo;MTN's&rdquo;) due 1998, or Ps. 4.2 million (accrued interest on December 31,
2011 was U.S. $472,824, or Ps. 6.6 million). As of December 31, 2010, Simec&rsquo;s total consolidated debt consisted of U.S. $302,000
of 8 7/8% medium-term notes (&ldquo;MTN's&rdquo;) due 1998, or Ps. 3.7 millions (accrued interest on December 31, 2010 was U.S.
$445,914, or Ps. 5.5 millions).</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>(3) Commitments and contingent liabilities:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">a. Pacific Steel, Inc. (a wholly-owned subsidiary located in the
U.S.A.) has been named in various claims and suits relating to the generation, storage, transport, disposal and cleanup of materials
classified as hazardous waste. The Company has accrued approximately Ps. 5.9 millions (U.S. $424,207) at December 31, 2011, (included
in accrued liabilities) relating to these actions; the reduction of this reserve from previous levels reflects clean-up activities
undertaken by Simec. Management believes the ultimate liability with respect to this matter will not exceed the amounts that have
been accrued.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">b. The Company is subject to various other legal proceeding and
claims, which have arisen, in the ordinary course of its business. It is the opinion of management that their ultimate resolution
will not have a material adverse effect on the Company&rsquo;s consolidated financial position or consolidated results of operations.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER:</FONT> 4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RELATIONS OF SHARES INVESTMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#9;CONSOLIDATED</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">COMPANY NAME</TD>
    <TD STYLE="width: 31%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">MAIN ACTIVITIES</TD>
    <TD STYLE="width: 14%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">NUMBER OF</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">SHARES</P></TD>
    <TD STYLE="width: 15%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">OWNERSHIP</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">SUBSIDIARIES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">Cia Siderurgica de Guadalajara</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Production and sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec International</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Production and sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Arrendadora Simec</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Production and sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Undershaft</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sub-Holding</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Pacific Steel</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Scrap purchase</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Cia. Sider&uacute;rgica del Pac&iacute;fico</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Rent of land</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Coordinadora de Servicios Sider&uacute;rgicos de Calidad</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Administrative services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Comercializadora Simec</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Industrias del Acero y del Alambre</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Procesadora Mexicali</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Scrap purchase</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Servicios Simec</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Administrative services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Sistemas de Transporte de Baja California</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Freight services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Operadora de Metales</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Administrative services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Operadora de Servicios Sider&uacute;rgicos de Tlaxcala</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Administrative services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Administradora de Servicios Sider&uacute;rgicos de Tlaxcala</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Administrative services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Operadora de Servicios de la Industria Sider&uacute;rgica</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Administrative services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">SimRep</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sub-Holding</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">50.22</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Republic Engineered Products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Production and sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">50.22</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CSG Comercial</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.95</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Comercializadora de Productos de&nbsp; Aceros de Tlaxcala</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.95</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Sider&uacute;rgica de Baja California</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.95</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Corporaci&oacute;n Aceros DM</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sub-Holding</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Productos Siderurgicos de Tlaxcala</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Comercializadora MSAN</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Comercializadora Aceros DM</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Promotora de Aceros San Luis</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Corporativos G&amp;DL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Administrative services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">85.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Procesadora Industrial</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Administrative services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Acero Transporte San</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Freight services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec International 2 Inc.</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec International 3 Inc.</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec International 4 Inc.</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec International 5 Inc.</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec International 6</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Production and sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec International 7</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Production and sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Corporaci&oacute;n ASL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec Acero</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec USA</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Simec Steel</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Sales of steel products</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Pacific Steel Projects</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Administrative services</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">100.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">GV do Brasil</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Production and sales of Steel productos</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">99.99</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>TOTAL INVESTMENT IN SUBSIDIARIES</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>ASSOCIATEDS</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TOTAL INVESTMENT IN ASSOCIATEDS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">OTHER PERMANENT INVESTMENTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>TOTAL</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">0</P></TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">NOTES</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>MEXICAN STOCK EXCHANGE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIFIC / ICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK EXCHANGE CODE<B>: SIMEC</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">QUARTER:</FONT> 4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CREDITS BREAK DOWN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(THOUSANDS OF MEXICAN PESOS)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">CONSOLIDATED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="border: windowtext 1pt solid; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold; text-align: center">Amortization</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">Rate of</TD>
    <TD COLSPAN="6" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Denominated in Pesos (Thousands of Pesos)</TD>
    <TD COLSPAN="6" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Denominated in Foreign Currency (Thousands of Pesos)</TD></TR>
<TR>
    <TD STYLE="border: windowtext 1pt solid; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">Credit Type / Institution</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold; text-align: center">Date</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">Interest</TD>
    <TD COLSPAN="6" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Time Interval</TD>
    <TD COLSPAN="6" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Time Interval</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Current</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 2</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 3</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 5</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Current</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 2</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 3</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 4</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Until 5</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Year</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Year</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Years</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Years</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Years</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Years or</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Year</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Year</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Years</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Years</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Years</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">Years or</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">More</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">More</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; font-weight: bold">BANKS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TOTAL BANKS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.75pt"><B>LISTED IN THE</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.75pt"><B>STOCK EXCHANGE</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.75pt"><B>UNSECURED DEBT</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">Medium Term Notes</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">15/12/1998</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">9.33</P></TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4,225</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TOTAL STOCK EXCHANGE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">4,225</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.75pt"><B>SUPPLIERS</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 9pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">Various</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">445,207</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,849,494</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TOTAL SUPPLIERS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">445,207</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,849,494</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">OTHER LOANS WITH COST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">0.25</P></TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">707,453</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 34 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TOTAL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">707,453</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">OTHER CURRENT LIABILITIES WITHOUT COST</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">Various</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">125,568</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">444,563</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TOTAL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">125,568</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">444,563</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TOTAL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">570,775</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,005,735</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 2px">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 2px">&nbsp;</TD>
    <TD STYLE="width: 53px">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 100%; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><B>NOTES:</B> The exchange rate of the peso to the U.S. Dollar at December 31, 2011 was Ps. 13.9904</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>SIMEC</B>&nbsp;&nbsp;QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">MONETARY FOREIGN CURRENCY
POSITION</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Thousands of Mexican Pesos)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#9;<FONT STYLE="font-size: 8pt"><B>CONSOLIDATED</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">DOLLARS</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">OTHER CURRENCIES</TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">TOTAL</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">FOREING CURRENCY POSITION</TD>
    <TD STYLE="width: 13%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">THOUSANDS OF DOLLARS</TD>
    <TD STYLE="width: 13%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">THOUSANDS OF PESOS</TD>
    <TD STYLE="width: 13%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">THOUSANDS OF DOLLARS</TD>
    <TD STYLE="width: 13%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">THOUSANDS OF PESOS</TD>
    <TD STYLE="width: 13%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">THOUSANDS OF PESOS</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TOTAL ASSETS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">573,167</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold; text-align: right">8,018,833</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">8,018,833</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">LIABILITIES POSITION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">218,287</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold; text-align: right">3,053,923</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,053,923</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">SHORT TERM LIABILITIES POSITION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">214,843</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; text-align: right">3,005,735</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,005,735</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">LONG TERM LIABILITIES POSITION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">3,444</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; text-align: right">48,188</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">48,188</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">NET BALANCE</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">354,880</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold; text-align: right">4,964,910</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; tab-stops: center 220.95pt right 441.9pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4,964,910</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>NOTES</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">THE EXCHANGE RATE OF THE PESO TO THE U.S. DOLLAR AT DECEMBER 31,
2011 WAS PS. 13.9904</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>SIMEC</B>&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">GRUPO SIMEC, S.A.B. DE C.V.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">DEBT INSTRUMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#9;<FONT STYLE="font-size: 8pt"><B>CONSOLIDATED</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>FINANCIAL LIMITED BASED IN ISSUED DEED AND/OR TITLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">MEDIUM TERM NOTES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">A) Current assets to current liabilities must be 1.0
times or more.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">B) Total liabilities to total assets do not be more
than 0.60.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">C) Operating income plus items added to income which
do not require using cash must be 2.0 times or more.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">This notes was offered in the international market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;<FONT STYLE="font-size: 8pt"><B>ACTUAL SITUATION OF FINANCIAL
LIMITED</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">MEDIUM TERM NOTES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">A) Accomplished the actual situation is 4.24 times.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">B) Accomplished the actual situation is 0.22</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">C) Accomplished the actual situation is 151.4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">As of December 31, 2011, the remaining balance of the
MTNs not exchanged amounts to Ps. 4.2 Millions ($302,000 dollars).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">C.P. Adolfo Luna Luna</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;<FONT STYLE="font-size: 8pt"><B>BONDS AND/OR MEDIUM TERM NOTES
CERTIFICATE</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>SIMEC</B>&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>GRUPO SIMEC, S.A.B. DE C.V.</B></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PLANTS, COMMERCE CENTERS OR DISTRIBUTION
CENTERS</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#9;<FONT STYLE="font-size: 8pt"><B>CONSOLIDATED</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PLANT OR CENTER</TD>
    <TD STYLE="width: 32%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">ECONOMIC ACTIVITY</TD>
    <TD STYLE="width: 14%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">PLANT CAPACITY</TD>
    <TD STYLE="width: 15%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">UTILIZATION (%)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">GUADALAJARA MINI MILL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION AND SALES OF STEEL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">480</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">72.66</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">MEXICALI MINI MILL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION AND SALES OF STEEL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">250</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">73.92</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">APIZACO AND CHOLULA PLANTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION AND SALES OF STEEL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">480</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">76.43</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">CANTON CASTER FACILITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION OF BILLET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,144</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">72.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">LORAIN CASTER FACILITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION OF BILLET</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,045</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">0.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">LORAIN HOT-ROLLING MILL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION AND SALES OF STEEL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">693</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">44.80</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">LACKAWANNA HOT-ROLLING MILL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION AND SALES OF STEEL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">495</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">67.40</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">MASSILLON COLD-FINISH FACILITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION AND SALES OF STEEL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">104</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">61.80</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">GARY COLD-FINISH FACILITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION AND SALES OF STEEL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">59</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">49.00</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">ONTARIO COLD-FINISH FACILITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION AND SALES OF STEEL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">49</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">47.80</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">SAN LUIS POTOSI COLD-FINISH FACILITY</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PRODUCTION AND SALES OF STEEL PRODUCTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">620</P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">80.76</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>SIMEC</B>&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>GRUPO SIMEC, S.A.B. DE C.V.</B></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MAIN RAW MATERIALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#9;<FONT STYLE="font-size: 8pt"><B>CONSOLIDATED</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DOMESTIC</B></P></TD>
    <TD STYLE="width: 16%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MAIN SUPPLIERS</B></P></TD>
    <TD STYLE="width: 16%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FOREIGN</B></P></TD>
    <TD STYLE="width: 16%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MAIN SUPPLIERS</B></P></TD>
    <TD STYLE="width: 16%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">DOMESTIC SUBSTITUTION</TD>
    <TD STYLE="width: 16%; border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">COST PRODUCTION (%)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PLANTS IN USA</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">SCRAP</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">VARIOUS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">NO</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">47.70</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">SCRAP</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">VARIOUS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PLANTS IN MEXICO</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">55.94</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">FERROALLOYS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">VARIOUS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PLANTS IN MEXICO</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">YES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">6.74</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PLANTS IN USA</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">FERROALLOYS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">VARIOUS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">NO</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">13.70</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">ELECTRODES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">VARIOUS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PLANTS IN MEXICO</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">VARIOUS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">YES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1.93</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">PLANTS IN USA</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">ELECTRODES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">VARIOUS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">NO</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2.10</TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-bottom: 6pt">&nbsp;</DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt">&nbsp;</DIV>
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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>SIMEC</B>&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>GRUPO SIMEC, S.A.B. DE C.V.</B></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SELLS DISTRIBUTION BY PRODUCT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#9;<FONT STYLE="font-size: 8pt"><B>CONSOLIDATED</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DOMESTIC SALES</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">MAIN PRODUCTS</TD>
    <TD COLSPAN="3" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">NET SALES</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MAIN DESTINATION</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">VOLUME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">TRADEMARKS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CUSTOMERS</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">COMMERCIAL PROFILES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">910</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">9,492,258</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">SPECIAL PROFILES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">539</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">6,088,232</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">OTHERS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">127,431</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">T O T A L</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,449</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp; 15,707,921</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">FOREIGN SALES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">839</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">13,562,577</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">TOTAL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,288</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">29,270,498</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 2px">&nbsp;</TD>
    <TD STYLE="width: 122px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>SIMEC</B>&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>GRUPO SIMEC, S.A.B. DE C.V.</B></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SELLS DISTRIBUTION BY PRODUCT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#9;<FONT STYLE="font-size: 8pt"><B>CONSOLIDATED</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FOREIGN SALES</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">MAIN PRODUCTS</TD>
    <TD COLSPAN="3" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">NET SELLS</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MAIN </B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">VOLUME</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">AMOUNT</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">TRADEMARKS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">CUSTOMERS</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">EXPORTS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">COMMERCIAL PROFILES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">157</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,836,626</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">SPECIAL PROFILES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">17</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">162,362</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">OTHERS</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">92,071</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>FOREIGN SUBSIDIARIES</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">SPECIAL PROFILES</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">839</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13,562,577</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">T O T A L</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">15,653,636</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 2px">&nbsp;</TD>
    <TD STYLE="width: 124px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>SIMEC</B>&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>GRUPO SIMEC, S.A.B. DE C.V.</B></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSTRUCTION IN PROGRESS</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#9;<FONT STYLE="font-size: 8pt"><B>CONSOLIDATED</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">THE PROJECTS IN PROGRESS AT DECEMBER 31, 2011, ARE:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">PROJECTS IN PROGRESS</TD>
    <TD STYLE="width: 14%; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">TOTAL INVESTMENT</TD>
    <TD STYLE="width: 28%; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 21%; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">PROJECTS IN REPUBLIC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: right">56,551</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">PROJECTS IN MEXICALI</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: right">4,268</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">PROJECTS IN TLAXCALA</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: right">12,345</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt">PROJECTS IN GUADALAJARA</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: right">861</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">PROJECTS IN SAN LUIS POTOSI</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: right">4,130</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">TOTAL INVESTMENT AS OF<BR>
 DECEMBER 31, 2011</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; border-bottom: Black 2.5pt double">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="text-underline-style: double"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>78,155</B></P></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>





<BR>
<BR>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>SIMEC</B>&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>GRUPO SIMEC, S.A.B. DE C.V.</B></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TRANSACTIONS IN FOREIGN CURRENCY AND CONVERSION
OF FINANCIAL STATEMENTS OF FOREIGN OPERATIONS</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INFORMATION RELATED TO BULLETIN B-15</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#9;<FONT STYLE="font-size: 8pt"><B>CONSOLIDATED</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Foreign currency
transactions and exchange differences &ndash; </B></FONT>Transactions in foreign currencies are recorded at the exchange rates
prevailing at the celebration and liquidation dates. The assets and liabilities in foreign currencies are translated at the exchange
rates prevailing at the date of the consolidated balance sheet. The exchange gains or losses incurred in connection with those
assets or liabilities are included in the Statement of income, as part of the comprehensive financing cost. Note 3 presents the
consolidated position in foreign currencies at the end of each year and the exchange rates used in the translation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The functional and reporting currency of the
Company is the Mexican peso. The financial statements of foreign subsidiaries were translated to Mexican pesos in accordance with
the New Mexican Financial Reporting Standard MFRS B-15 &quot;Conversion of foreign currencies&rdquo; that came into effect on January
1, 2008. Under this Standard, the first step to convert financial information from operations abroad is the determination of the
functional currency. The functional currency is the currency of the primary economic environment of the foreign operation or, if
different, the currency that mainly impacts its cash flows. The new rule incorporates the concepts of recording currency that is
the currency in which the entity maintains its accounting records, whether for legal or information purposes and the reporting
currency, which is the currency chosen by the Company to report its financial information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: black">The U.S. dollar
was considered as the functional currency of the subsidiary SimRep, therefore the financial statements of this subsidiary were
translated into Mexican pesos</FONT> by applying: i) the exchange rates at the balance sheet date to all assets and liabilities
and (ii) the historical exchange rate at stockholders&rsquo; equity accounts and revenues, costs and expenses. The difference resulting
from the translation or consolidation processes or from applying the equity method, is recognized as a cumulative translation adjustment
as part of Translation effect in foreign subsidiaries in Stockholders&rsquo; equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><BR>
<FONT STYLE="color: black">The Mexican Peso was considered the functional currency of the subsidiary Pacific Steel and the U.S.
dollar as its recording currency; therefore the financial statements were translated to Mexican pesos as follows</FONT>: i) monetary
assets and liabilities by applying the exchange rates at the balance sheet date; ii) non-monetary assets and liabilities, as well
as stockholders&rsquo; equity accounts, at the historical exchange rate; and iii) revenues, costs and expenses at the historical
exchange rate. Translation differences were carried directly to the income statement under the caption Foreign exchange loss, net.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>SIMEC</B>&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>GRUPO SIMEC, S.A.B. DE C.V.</B></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 8pt"><B>INTEGRATION OF THE PAID SOCIAL
CAPITAL STOCK</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHARACTERISTICS OF THE SHARES</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">SERIES</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOMINAL</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>VALUE</B></P></TD>
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>VALID</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>COUPON</B></P></TD>
    <TD COLSPAN="4" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">NUMBER OF SHARES</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CAPITAL STOCK</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Thousands of Pesos)</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">FIXED PORTION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">VARIABLE PORTION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MEXICAN</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">FREE SUBSCRIPTION</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FIXED</B></P></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>VARIABLE</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">B</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">90,850,050</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">406,859,164</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">497,709,214</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">441,786</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,978,444</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">TOTAL</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">90,850,050</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">406,859,164</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">497,709,214</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">441,786</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,978,444</TD></TR>
<TR>
    <TD STYLE="width: 52px">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 2px">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 92px">&nbsp;</TD>
    <TD STYLE="width: 92px">&nbsp;</TD>
    <TD STYLE="width: 92px">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 70px">&nbsp;</TD>
    <TD STYLE="width: 70px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; border: Black 1pt solid"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL NUMBER OF SHARES REPRESENTING THE
PAID-IN CAPITAL STOCK ON THE DATE OF SENDING THE INFORMATION : </B>497,709,214</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 44 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEXICAN STOCK EXCHANGE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIFIC / ICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 52%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">STOCK
EXCHANGE CODE<B>:</B></TD>
    <TD STYLE="width: 48%; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>SIMEC</B>&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">QUARTER:
    </FONT>4 <FONT STYLE="font-size: 8pt">YEAR: <B>2011</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>GRUPO SIMEC, S.A.B. DE C.V.</B></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>CONSOLIDATED</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DECLARATION OF THE COMPANY OFFICIALS RESPONSIBLE
FOR THE INFORMATION CONTAINED IN THIS REPORT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">LUIS GARCIA LIMON AND ADOLFO LUNA LUNA CERTIFY THAT BASED ON OUR
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 HEREIN, IN LIGHT OF THE CIRCUMSTANCES UNDER WHICH SUCH STATEMENTS WERE MADE, NOT MISLEADING WITH RESPECT TO
THE PERIOD COVERED BY THIS SECOND QUARTER REPORT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; font-weight: bold">&nbsp;ING LUIS GARCIA LIMON</TD>
    <TD STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; font-weight: bold; text-align: right">C.P. ADOLFO LUNA LUNA&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; font-weight: bold">CHIEF EXECUTIVE OFFICER</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; font-weight: bold; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHIEF FINANCIAL OFFICER</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<B>GUADALAJARA, JAL, AT MAY 03 OF 2012.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>



<P STYLE="margin: 0"></P>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
