<SEC-DOCUMENT>0001104659-17-067968.txt : 20171113
<SEC-HEADER>0001104659-17-067968.hdr.sgml : 20171110
<ACCEPTANCE-DATETIME>20171113161651
ACCESSION NUMBER:		0001104659-17-067968
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		24
CONFORMED PERIOD OF REPORT:	20171113
FILED AS OF DATE:		20171113
DATE AS OF CHANGE:		20171113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELECOM ARGENTINA SA
		CENTRAL INDEX KEY:			0000932470
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13464
		FILM NUMBER:		171196073

	BUSINESS ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB
		BUSINESS PHONE:		54-11-4968-4000

	MAIL ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELECOM ARGENTINA STET FRANCE TELECOM SA
		DATE OF NAME CHANGE:	19950809
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a17-26459_36k.htm
<DESCRIPTION>6-K
<TEXT>


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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;6-K</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Report of Foreign Issuer</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Pursuant to Rule&nbsp;13a-16 or 15d-16</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">of the Securities Exchange Act of 1934</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">For the month of November&nbsp;2017</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Commission File Number: 001-13464</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Arial" style="font-size:16.0pt;font-weight:bold;">Telecom </font></b><b><font size="5" face="Arial" style="font-size:16.0pt;font-weight:bold;">Argentina S.A.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">(Translation of registrant&#146;s name into English)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Alicia Moreau de Justo, No.&nbsp;50, 1107</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Buenos Aires, Argentina</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-justify:inter-ideograph;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Form&nbsp;20-F</font></p>    </td>
<td width="18%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:18.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.28%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Form&nbsp;40-F</font></p>    </td>
<td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.46%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-justify:inter-ideograph;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(1):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
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<td width="24%" valign="top" style="padding:0in 0in 0in 0in;width:24.86%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Yes</font></p>    </td>
<td width="18%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:18.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.28%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">No</font></p>    </td>
<td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.46%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-justify:inter-ideograph;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(7):</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
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<td width="24%" valign="top" style="padding:0in 0in 0in 0in;width:24.86%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Yes</font></p>    </td>
<td width="18%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:18.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.28%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">No</font></p>    </td>
<td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.46%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-justify:inter-ideograph;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b)&nbsp;under the Securities Exchange Act of 1934:</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="52%" style="border-collapse:collapse;margin-left:1.75in;">
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<td width="24%" valign="top" style="padding:0in 0in 0in 0in;width:24.86%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Yes</font></p>    </td>
<td width="18%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:18.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.28%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">No</font></p>    </td>
<td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.46%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-justify:inter-ideograph;"><font size="3" face="Arial" style="font-size:12.0pt;">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with Rule&nbsp;12g3-2(b): <u>&#160;N/A</u></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105924\17-26459-3\task8637954\26459-3-ba.htm',USER='105924',CD='Nov 13 22:39 2017' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Telecom </font></b><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Argentina S.A.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">TABLE OF CONTENTS</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1.&#160;&#160; Telecom Argentina S.A. announces consolidated nine month period (&#145;9M17&#146;) and third quarter results for fiscal year 2017 (&#145;3Q17&#146;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105924\17-26459-3\task8637954\26459-3-ba.htm',USER='105924',CD='Nov 13 22:39 2017' -->

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Telecom   </font></b><b>Argentina S.A.</b></p>    </td>   </tr>
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<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November&nbsp;13, 2017</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Pedro G. Insussarry</font></p>    </td>   </tr>
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<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="37%" valign="top" style="padding:0in 0in 0in 0in;width:37.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pedro G. Insussarry</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Responsible for   Market Relations</font></p>    </td>   </tr>  </table>
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<DESCRIPTION>EX-1
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">Exhibit 1</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial"><img width="115" height="88" src="g264593mo01i001.jpg"></font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">FOR IMMEDIATE   RELEASE</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Market Cap P$112.7 billion</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">November&nbsp;10</font><font size="1" color="gray" face="Arial" style="color:gray;font-size:5.0pt;position:relative;top:-5.0pt;">th</font><font color="gray" face="Arial" style="color:gray;">, 2017</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Contacts:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Pedro   Insussarry</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Solange Barthe Dennin</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">(54 11) 4968-3743/3752</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="5" color="#4576d6" face="Arial" style="color:#4576D6;font-size:17.0pt;font-weight:bold;">Telecom Argentina S.A.</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" color="#4576d6" face="Arial" style="color:#4576D6;font-size:17.0pt;font-weight:bold;">announces consolidated nine month period (&#145;9M17&#146;) and third quarter results for fiscal year 2017 (&#145;3Q17&#146;)*</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
<td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.92%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Consolidated   Revenues amounted to P$47,263 million (+21.8% vs. 9M16); Service Revenues   reached P$41,646 million (+26.7% vs. 9M16); Fixed Voice Services and Internet   Services +41.4% and +29.2% vs. 9M16, respectively; and Mobile Services in   Argentina +24.5% vs. 9M16.</font></b></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Mobile   subscribers in Argentina: 19.0 million in 9M17.</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Mobile   Internet in Argentina +64.8% vs. 9M16; 48.9% of Service Revenues.</font></b></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Mobile   ARPU in Argentina increased to P$139.0 per month in 9M17 (+28.4% vs. 9M16).</font></b></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
<td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.92%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">ADSL   ARPU raised to P$350.1 per month in 9M17 (+34.4% vs. 9M16); monthly churn   reached 1.4% in 9M17.</font></b></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
<td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.92%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Consolidated   Operating costs -including D&amp;A and disposals and impairment of PP&amp;E-   totaled P$38,306 million (+14.9% vs. 9M16).</font></b></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
<td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.92%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Operating   Income before Depreciation and Amortization (&#145;EBITDA&#146;) reached P$14,246   million (+39.5% vs. 9M16), 30.1% of consolidated revenues.</font></b></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
<td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.92%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Net   Income amounted to P$5,695 million (+128.3% vs. 9M16). Net Income   attributable to Telecom Argentina amounted to P$5,641 million (+128.3% vs.   9M16), influenced by the growth in EBITDA and better financial results.</font></b></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
<td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.92%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Capex   reached P$6,638 million in 9M17, equivalent to 14.0% of Consolidated   Revenues.</font></b></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font></p>    </td>
<td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.92%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Net   Financial Position: P$503 million in cash and financial assets, an   improvement of P$7,660 million vs. 9M16, mostly due to an increase in   operating cash flow.</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt 10.0pt;text-align:right;text-indent:-10.0pt;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="bottom" bgcolor="#082158" style="background:#082158;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-weight:bold;">As&nbsp;of&nbsp;September,&nbsp;30</font></b></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<p align="right" style="margin:0in .2in .0001pt 10.1pt;text-align:right;text-indent:-10.1pt;"><b><i><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-style:italic;font-weight:bold;">(in&nbsp;million&nbsp;P$,&nbsp;except&nbsp;where&nbsp;noted)</font></i></b></p>    </td>
<td width="3%" valign="bottom" bgcolor="#082158" style="background:#082158;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-weight:bold;">2017&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-weight:bold;">2016&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-weight:bold;">&nbsp;&nbsp;&nbsp;&#916;&nbsp;$</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#082158" style="background:#082158;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-weight:bold;">&nbsp;&nbsp;&nbsp;&#916;&nbsp;%&nbsp;</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Consolidated Revenues</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">47,263</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">38,818</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">8,445</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">21.8%</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 31.7pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Mobile Services</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">32,634</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">27,928</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">4,706</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">16.9%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 31.7pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Fixed Services</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">14,629</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">10,890</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,739</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">34.3%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Operating Income before D&amp;A</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">14,246</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">10,210</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">4,036</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">39.5%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Operating Income</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">9,018</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5,523</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,495</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">63.3%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Net Income attributable to Telecom Argentina</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5,641</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,471</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,170</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">128.3%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Shareholders&#146; equity attributable to Telecom Argentina</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">25,063</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">17,843</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,220</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">40.5%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Net Financial Position - Cash / (Debt)</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">503</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(7,157)</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,660</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-107.0%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">CAPEX (excluding spectrum)</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6,638</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,699</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,061)</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-13.8%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Fixed lines in service (in thousand lines)</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,838</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,946</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(107)</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-2.7%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Mobile customers (in thousand)</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">21,507</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">22,433</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(925)</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-4.1%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 31.7pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Personal (Argentina)</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">19,030</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">19,901</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(871)</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-4.4%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 31.7pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">N&#250;cleo (Paraguay) -including Wimax customers-</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,477</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,532</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(55)</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-2.2%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Broadband accesses (in thousand)</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,746</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,800</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(54)</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-3.0%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Average Billing per user (ARBU) Fixed Telephony / voice (in P$)</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">145.6</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">93.1</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">52.5</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">56.3%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Average Revenue per user (ARPU) Mobile Services in Arg. (in P$)</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">139.0</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">108.3</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">30.7</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">28.4%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:56.82%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Average Revenue per user (ARPU) ADSL (in P$)</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:3.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">350.1</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">260.4</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">89.7</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="gray" style="background:white;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">34.4%</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">*Unaudited non financial data</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">1</font><font color="gray" face="Arial" style="color:gray;"><a name="PB_1_213151_4599"></a></font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial"><img width="115" height="88" src="g264593mo01i002.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" color="#3366ff" face="Arial" style="color:#3366FF;font-size:10.0pt;font-style:italic;">Buenos Aires, November&nbsp;10, 2017</font></i><font color="gray" face="Arial" style="color:gray;"> - Telecom Argentina (&#145;Telecom&#146;) - (NYSE: TEO; BASE: TECO2), one of Argentina&#146;s leading telecommunications companies, announced today a Net Income of P$5,695 million for the nine month period</font><font size="2" color="gray" face="Arial" style="color:gray;font-size:9.5pt;"> ended September&nbsp;30, 2017</font><font color="gray" face="Arial" style="color:gray;">, or +128.3% when compared to 9M16. Net income attributable to Telecom Argentina amounted to P$5,641 million (+P$3,170 +128.3% vs. 9M16).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="93%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.25in;">
<tr>
<td width="49%" valign="bottom" bgcolor="#082158" style="background:#082158;padding:1.45pt 0in 1.45pt 0in;width:49.1%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#082158" style="background:#082158;padding:1.45pt 0in 1.45pt 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#082158" style="background:#082158;padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-weight:bold;">9M17</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#082158" style="background:#082158;padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-weight:bold;">9M16</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#082158" style="background:#082158;padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#082158" style="background:#082158;padding:1.45pt 0in 1.45pt 0in;width:10.64%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:10.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:49.1%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Consolidated Revenues (MMP$)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">47.263</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">38.818</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">8.445</font></p>    </td>
<td width="10%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:10.64%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">21,8 %</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:49.1%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Net Income attributable to Telecom   Argentina (MMP$)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">5.641</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">2.471</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">3.170</font></p>    </td>
<td width="10%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:10.64%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">128,3 %</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:49.1%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Earnings attributable to Telecom per   Share (P$)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">5,8</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">2,5</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">3,3</font></p>    </td>
<td width="10%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:10.64%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:49.1%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Earnings attributable to Telecom per ADR   (P$)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">29,1</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">12,7</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">16,4</font></p>    </td>
<td width="10%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:10.64%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:49.1%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Operating Income before D&amp;A *</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">30,1 %</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">26,3 %</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:10.64%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:49.1%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Operating Income *</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">19,1 %</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">14,2 %</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:10.64%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:49.1%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Net Income *</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">12,0 %</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">6,4 %</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.44%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:10.64%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">*As a percentage of Consolidated Revenues</font></p>
<p style="margin:0in 0in .0001pt .25in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;Note: The average of ordinary shares outstanding amounted to 969,159,605.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">During 9M17, Consolidated Revenues increased by 21.8% to P$47,263 million (+P$8,445 million vs. 9M16), mainly driven by Fixed Voice Services, Fixed Internet Services and Mobile Services in Argentina. Moreover, Operating Income reached P$9,018 million (+P$3,495 million or +63.3% vs. 9M16).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Consolidated   Operating Revenues</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:16.0pt;font-style:italic;">Mobile Services</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2017, mobile   clients amounted to 21.5 million.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Third Parties Revenues amounted to   P$32,634 million (+16.9% vs. 9M16), of which the services revenues   represented P$27,311 million (+23.8% vs. 9M16). The commercial strategy was   focus on the innovation was focused to the consumption of mobile internet   services through an updated offer of plans suitable for all market segments.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">Telecom Personal in Argentina</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2017, Personal   reached 19.0 million subscribers in Argentina, where postpaid clients   represented 34% of the subscriber base.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">In 9M17, Third Parties Revenues reached   P$30,514 million (+P$4,568 million or +17.6% vs. 9M16) while Service Revenues   (excluding equipment sales) amounted to P$25,264 million (+24.5% vs. 9M16),   with 48.9% corresponding to mobile internet revenues (vs. 36.9% as in 9M16),   as Mobile Internet Revenues amounted to P$12,353 million (+64.8% vs. 9M16).   Revenues from Outbound Mobile Services reached P$22,118 million (+22.6% vs.   9M16), mainly due to price increases in Postpaid and Monthly Fee client   segments and, in a lesser extent, due to the increases in the amount of   online recharges of prepaid subscribers. Meanwhile, Revenues from Inbound   Mobile Services amounted to P$1,949 million (+66.9% vs. 9M16), increase that   was mainly generated by price increases in CPP and TLRD. In addition,   equipment sales decreased by -7.1% vs. 9M16, reaching P$5,250 million,   equivalent to 17.2% of total revenues.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">The average monthly revenue per   user (&#145;ARPU&#146;) amounted to $139.0 during 9M17 (+28.4% vs. 9M16).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial"><img width="218" height="226" src="g264593mo01i003.jpg"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">2</font><font color="gray" face="Arial" style="color:gray;"><a name="PB_2_214724_5335"></a></font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">Commercial   Initiatives</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">During 3Q17, in line with its   connectivity strategy for all the family, Personal added more benefits for   Prepaid clients to foster the consumption changes towards an intensive use of   mobile internet, offering with each recharge of P$50 or more unlimited   Whatsapp usage for the entire month without any deduction from the data   quota, even if they run out of credit.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Likewise, together with the 4G-network deployment, and with the   aim of promoting the technologic evolution towards the 4G clients, Personal   added to its wide spectrum of new state-of-the-art devices.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">Telecom Personal in Paraguay (&#145;N&#250;cleo&#146;)</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2017, N&#250;cleo&#146;s   subscriber base reached around 2.5 million clients. Prepaid and postpaid   customers represented 83% and 17%, respectively.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">N&#250;cleo generated revenues from Third   Parties equivalent to P$2,120 million during 9M17 (+7.0% vs. 9M16). Internet   revenues amounted to P$931 million (+32.1% vs. 9M16) representing 45.5% of   9M17 service revenues (vs. 39.9% in 9M16).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:16.0pt;font-style:italic;">Fixed Services (Voice,&nbsp;Internet and Data)</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">During 9M17, Revenues generated by Fixed   Services totaled to P$14.335 million, +32.6% vs. 9M16; with Voice revenues   increasing by +41.4% vs. 9M16, mainly due to price increases in monthly fees.   Meanwhile,&nbsp;Internet revenues grew by +29.2% vs. 9M16 and Data Revenues   were up by +21.7%.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">Voice</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Total Voice revenues reached P$6,119   million in 9M17 (+41.4% vs. 9M16). This increase is explained mainly by price   increases that came into effect in both corporate and residential segments,   and additionally due to the offer of bundled packs that include voice and   internet services<i> (&#145;Arnet + Voz&#146;), </i>that   aim to achieve higher levels of customer loyalty and churn reduction.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As a result, the average monthly revenue   billed per user (&#145;ARBU&#146;) reached P$145.6 in 9M17, +56.3% vs. 9M16.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">Internet</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2017, Telecom   reached 1.7 million ADSL accesses. These connections represented 45.5% of   Telecom&#146;s fixed lines in service. Additionally, ADSL ARPU reached P$350.1 in   9M17, +34.4% when compared to 9M16, however&nbsp;   the average monthly<i> churn</i> rate   for the period increased reaching 1.4% in 9M17 vs. 1.5% in 9M16. Clients with   service of 15Mb or higher currently represent 17% of the total customer base   as of 9M17</font></p>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">3</font><font color="gray" face="Arial" style="color:gray;"><a name="PB_3_215625_5796"></a></font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">Data</font></i></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Data revenues (services mainly offered to   Corporate, SME and Government and to other operators) amounted to P$2,595   million (+P$462 million or +21.7% vs. 9M16), generated in a context that   evidence the strong position of Telecom as an integrated ICT provider. This   increase was mainly driven by FX rate variations that affected those   contracts that are adjusted by the $/U$S exchange rate and due to the   increase in the number of clients.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">With   the aim of supporting the corporate segment development, the Telecom Group   continues to innovate the ICT services strengthening its world class   datacenters, turning into one of the first providers in Latin America to   offer Oracle Engineering Systems infrastructure in a Cloud modality in the   Nube Telecom. The result is a platform that allows organizations to   accelerate the deployment of their databases and critic apps, in a safe, fast   and reliable way. Through these solutions, the clients can hire the   infrastructure that they need, while the initial investment and any expense   related to technologic update and monthly maintenance are eliminated.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Likewise,   as a part of its IOT strategy, Telecom participated of the 1</font><font size="1" color="gray" face="Arial" style="color:gray;font-size:5.0pt;position:relative;top:-5.0pt;">st</font><font color="gray" face="Arial" style="color:gray;">&nbsp;Smart City Expo of Buenos Aires, presenting   its portfolio of solutions for intelligent cities which cover environment,   security, transport, government, health and education. Within the environment   solutions, &#147;intelligent meters&#148; and &#147;sustainable lighting&#148; are included. In   security matters, the &#147;Tetra&#148; solution was presented: an interoperable   solution that provides a safe and highly reliable communication system for   ambulance services, police and security forces. Finally, Telecom deployed a   platform for the security management for public transport. The platform   allows to receive and to control the location of the vehicles, the onboard   camera installation and the driver communication.</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Consolidated Operating Costs</font></u></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Consolidated   Operating Costs totaled P$38,306 million in 9M17, an increase of P$4,975   million, or +14.9% vs. 9M16 (including &#145;Disposals and impairment of PP&amp;E&#146;   that resulted in a loss of P$95 million in 9M17 vs. a loss of P$202 million   in 9M16). Continuing with the trend observed during the lasts quarters, this   overall increase is below inflation levels or Revenue growth, which allowed a   significant increase in the Company&#146;s EBITDA and to improve its margin. This   was a result of a higher level of efficiency in the cost structure. Higher   costs are mainly associated to the effect of a highly competitive environment   in the mobile and Internet businesses, the impact of higher direct and   indirect labor costs generated by the operations in Argentina, the increase   in fees for services related to price adjustments in supplier contracts,   increases in taxes and fees with regulatory authorities, in bad debt expenses   and higher D&amp;A, that were partially offset by lower cost of handsets   sold, VAS costs and commissions, among others.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">The cost breakdown is as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Employee benefit expenses and severance   payments totaled P$9,158 million (+27.0% vs. 9M16), mainly affected by   increases in salaries to unionized and non</font><font color="gray" face="Times New Roman" style="color:gray;">&#8208;</font><font color="gray" face="Arial" style="color:gray;">unionized employees together with the   associated social security contributions. Finally, total employees at the end   of 9M17 amounted to 15,510.</font></p>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">4</font><font color="gray" face="Arial" style="color:gray;"><a name="PB_4_220313_2897"></a></font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Interconnection costs and other   telecommunication charges (including TLRD, Roaming,&nbsp;Interconnection,   international settlement charges and lease of circuits) amounted to P$2,295 million,   +17.5% vs. 9M16. This increase resulted mainly from higher costs related to   TLRD due to price increases.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Fees for services, maintenance,   materials and supplies amounted to P$4,756 million (+32.8% vs. 9M16), mainly   due to costs increases in software maintenance in the fixed segment and   systems&#146; licenses in the mobile segment. There also were increases mainly in   costs associated with fees for services, mainly related to call centers and   higher costs recognized to suppliers in both mobile and fixed segments.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Taxes and fees with regulatory   authorities reached P$4,416 million (+16.2% vs. 9M16), impacted mainly due to   the increase in fixed and mobile services revenues, and as a consequence the   increase in turnover tax, as well as higher bank debit and credit taxes   related to collection flows and payments to suppliers in 9M17 vs. 9M16.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Commissions (Commissions paid to   agents, prepaid card commissions and others) totaled P$2,685 million (-3.9%   vs. 9M16). Decrease in commissions (before SAC capitalization, P$3,416   million in 9M17 vs. P$3,841 million in 9M16) is mainly due to a reduction in   commissions paid to commercial channels, explained by lower levels of   additions as well as lower handset sales, and also due to greater   efficiencies of a new agent commission model, and reduction in collection,   CPP and other fees mainly through electronic means of payment. Agent   commissions capitalized as SAC amounted to P$731 million (-30.1% vs. 9M16),   being this reduction related to a lower level of additions.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:2.25pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Cost of handsets sold totaled P$4,638   million (+0.2% vs. 9M16), this decrease was mainly due to a reduction in   quantities of handsets sold, given the modification in strategy where the   effort was centered more in the change of devices in order to achieve higher   upselling of mobile plans and less on capture operations, partially offset by   higher cost per device. Deferred costs from SAC amounted to P$58 million   (-38.3% vs. 9M16). Lower deferred costs were derived from lower quantities of   equipment sales during the nine month period of FY17.</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Advertising amounted to P$769 million   (+40.3% vs. 9M16), due to new advertising campaigns launched by the Group in   2017.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Depreciation and Amortization reached P$5,133 million (+14.4%   vs. 9M16). PP&amp;E depreciation amounted to P$3,702 million (+19.9% vs.   9M16) resulting from the incorporation of assets related to the investment   plan that the Group has been executing; the amortization of SAC and service   connection costs that totaled P$1,160 million (+6.7% vs. 9M16); the   amortization of 3G/4G licenses that amounted to P$245 million (-15.2% vs.   9M16), due to the extension in the duration of the license, and the   amortization of other intangible assets that reached P$26 million (+18.2% vs.   9M16).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Other Costs totaled P$4,361 million (+5.7% vs. 9M16), of which   Bad debt expenses reached P$920 million (+9.0% vs. 9M16), representing 2.4%   of consolidated costs in 9M17; this increase was partially offset by a   decrease on VAS costs that totaled P$690 million (-39.6% vs. 9M16), due to a   redesign in the offer of these services.</font></p>    </td>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">5</font><a name="PB_5_215802_9706"></a></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><img width="115" height="88" src="g264593mo02i003.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="67%" rowspan="11" valign="top" style="padding:0in 0in 0in 0in;width:67.5%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Consolidated   Financial Results</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Net Financial Results totaled a loss of P$276 million, which represented   an improvement of P$1,406 million vs. 9M16. This was mainly explained by   lower losses from net interests of P$388 million in 9M17 (+P$751 million vs.   9M16), due to lower cost from financial liabilities. Furthermore, FX results   net of NDF instruments totaled P$555 million in 9M17 (vs. a loss of P$748   million in 9M16) mainly due to a reduction in the peso depreciation occurred   since December&nbsp;2016 in comparison with 9M16. Moreover, gains on mutual   funds and other investment reached P$708 million (+P$454 million vs. 9M16),   driven by higher yields and invested amounts.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#002060" style="background:#002060;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:8.0pt;font-weight:bold;">in&nbsp;million&nbsp;of&nbsp;P$</font></b></p>    </td>
<td width="6%" valign="bottom" bgcolor="#002060" style="background:#002060;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:8.0pt;font-weight:bold;">9M16</font></b></p>    </td>
<td width="6%" valign="bottom" bgcolor="#002060" style="background:#002060;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:8.0pt;font-weight:bold;">9M17</font></b></p>    </td>
<td width="6%" valign="bottom" bgcolor="#002060" style="background:#002060;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:8.0pt;font-weight:bold;">$&nbsp;Var</font></b></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Net Interests</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">-$&nbsp;1.139</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">-$&nbsp;388</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">$&nbsp;751</font></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Gains on Mutual Funds&nbsp;&amp; other inv.</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">$&nbsp;254</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">$&nbsp;708</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">$&nbsp;454</font></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">FX results net of NDF</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">instruments</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">-$&nbsp;748</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">-$&nbsp;555</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">$&nbsp;193</font></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Others</font></p>    </td>
<td width="6%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">-$&nbsp;49</font></p>    </td>
<td width="6%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">-$&nbsp;41</font></p>    </td>
<td width="6%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.0pt;">$&nbsp;8</font></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Total</font></b></p>    </td>
<td width="6%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">-$&nbsp;1.682</font></b></p>    </td>
<td width="6%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">-$&nbsp;276</font></b></p>    </td>
<td width="6%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">$&nbsp;1.406</font></b></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="30%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="30%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="30%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="67%" valign="top" style="padding:0in 0in 0in 0in;width:67.5%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Consolidated Net Financial Position</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2017, Net Financial   Position (Cash, Cash Equivalents and financial Investments minus Loans)   totaled P$503 million in cash and cash equivalents, a better position of   P$7,660 million when compared to the Net Financial Position (Debt) as of   September&nbsp;30, 2016, this latter improvement during 9M17, was due to the   increase in EBITDA and a greater efficiency in working capital management.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Capital   Expenditures</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">During 9M17, the Company invested P$6,638 million   (-13.8% vs. 9M16). Of this amount, P$3,206 million were allocated to Fixed   Services and P$3,432 million to Mobile services, focusing on projects that   maximize network capacity and on the development of products and services   that contribute to address the customers needs that today demand for   connectivity and data availability. In relative terms, Capex reached 14.0% of   consolidated revenues</font><font color="gray" face="Arial" style="color:gray;">.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">In terms   of infrastructure, the deployment of the 4G/LTE network continued throughout   the country and also the technologic reconversion from the 2G and 3G   networks, as well as we continued with the deployment of optical fiber&nbsp; in order to connect homes with broad band   services. In this frame, the new 4G network was inagurated in the cities or   localities of the Northern region of Argentina of Tilcara, Abra Pampa and   Cafayate extending the high speed mobile Internet services to La Quebrada and   Valles Calchaqu&#237;es localities. Furthermore, a fiber backbone network of   almost 200km installed which connects twelve locations between Rosario de   Lerma and Cafayate, allowing a better fixed connectivity experience through   the Arnet service. In the AMBA region, Personal continued with the deployment   of 4G/LTE service in all the subways lines, enchacing the access to the high   speed data services for its clients during their subway trips.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Relevant   Matters</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">General Ordinary and Extraordinary Shareholders&#146; meeting of Telecom   Argentina S.A.</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">In the General Ordinary and Extraordinary Shareholder&#180;s meeting held on   August&nbsp;31, 2017 it the merger by absorption of Cablevisi&#243;n (conditioned   upon obtaining the regulatory approvals and compliance with other conditions   established on the Preliminary Merger</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="30%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><img width="179" height="206" src="g264593mo02i004.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><img width="198" height="250" src="g264593mo02i005.jpg"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">6</font><a name="PB_6_221345_7056"></a></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Agreement) was approved by which Telecom   Argentina, as surviving company, will absorb by merger Cablevisi&#243;n , as   absorbed company (the &#145;Merger&#146;).</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Furthermore, the Exchange Ratio of   Cablevisi&#243;n&#146;s shares for Telecom Argentina&#146;s shares was also approved, which   is stated in Fifth Section&nbsp;of the Preliminary Merger Agreement.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Additionally, the modification of   sections 1st; 4th; 5th; 7th; 8th; 10th; 10th Bis; 11th; 13th and 14th of the   Corporate Bylaws of Telecom Argentina was approved, in order that such   modification will take effect as of the date on which the Merger becomes   effective.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Finally, the increase in the capital   stock of Telecom Argentina up to $1,184,528,406 (or the amount that results   in case of any possible Adjustments to the Exchange Ratio) and the delegation   of powers to the Board of Directors (on the Effective Merger Date and always   between the two years to be counted as of the date of this Shareholders&#146; Meeting)   to issue 1,184,528,406 shares (or the amount that results in case of any   possible Adjustments to the Exchange Ratio) all of which are ordinary,   book-entry, of par value of one Argentine Peso and of one vote per share, was   approved, so as to be delivered to the shareholders of Cablevisi&#243;n once the   merger is effective.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Other   Relevant Matters</font></u></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Ordinary General Shareholder&#180;s meeting of   Telecom Personal</font></u></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">The Ordinary General Shareholder&#180;s   Meeting of Telecom Personal held on November&nbsp;6, 2017, decided to   disaffect from the &#147;Future Reserve for cash dividends<i>&#148;</i>   P$1,500 million and distribute them as cash dividends, which will be   available to the shareholder (Telecom Argentina) on November&nbsp;14, 2017.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><u><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Final Merger Agreement between Telecom   Argentina and Cablevisi&#243;n</font></u></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">On October&nbsp;31, 2017, having complied   with all the required legal matters, Telecom and Cablevisi&#243;n S.A. executed   the Final Merger Agreement in accordance with the terms of Section&nbsp;83,   item 4) of the General Corporate Law and ad referendum of the authorizations   of the &#145;Ente Nacional de Comunicaciones&#146; (&#145;ENACOM&#146;) that could apply under   Decree number 267/15-</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Call for the Ordinary General   Shareholders&#146; Meeting</font></u></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">The Company&#146;s Board of Directors, in a   meeting held on November&nbsp;2, 2017, resolved to summon for an Ordinary   General Shareholders&#146; Meeting to be held on November&nbsp;30, 2017, for the   purpose of considering the delegation of powers to the Board of Directors to   decide upon the partial or total withdrawal of the &#147;Reserve for Future Cash   Dividends&#148; and the distribution of the withdrawn funds as cash dividends, in   the amounts and dates determined by the Board of Directors.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><u><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Resolutions of the Nortel Inversora   (&#147;Nortel&#148;)&#146;s Common Shares and Class&nbsp;B Preferred Shares Special   Shareholders&#146; Meetings</font></u></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">In relation to the Telecom Group   Reorganization on November&nbsp;10, 2017 were held the Nortel&#146;s Common Shares   and Class&nbsp;B Preferred Shares Special Shareholders&#146; Meetings that   considered and approved the following:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Common Shares Special Shareholders&#146;   Meeting</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">The Common Shares Special Shareholders&#146;   Meeting resolved to approve the dilution of its voting rights on Nortel as a   result of the exchange ratio offered to the common shares within the context   of the merger of Nortel with and into Telecom Argentina as surviving entity   in the framework of the Telecom Group Reorganization.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Class&nbsp;B Preferred Shares   Shareholders&#146; Meeting</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">The Class&nbsp;B Preferred Shares   Shareholders&#146; Meeting resolved as follows:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&#149; To approve the Merger of Nortel with   and into Telecom Argentina as surviving company in the framework of the   Telecom Group Reorganization;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&#149;&nbsp;   To approve the dissolution of Nortel as a result of the merger;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&#149;&nbsp;   To approve the exchange ratio of the Class&nbsp;B Preferred Shares of   Nortel in exchange for Class&nbsp;B Common Shares of Telecom Argentina with   voting rights as established in the Preliminary Reorganization Agreement   dated March&nbsp;31, 2017;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&#149;&nbsp;   To approve the waiver and removal of the provisions of Condition   No.&nbsp;9, under the heading &#147;Commitments&#148; of the Conditions for the   Issuance of the Class&nbsp;B Preferred Shares;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&#149;&nbsp;   To approve the legal and accounting documents related to the Merger,   including the Preliminary Reorganization Agreement, the special and   consolidated financial statements of the merger, the Supervisory Committee&#146;s   report, the amendment of the bylaws of Telecom Argentina, and the   subscription of the Final Reorganization Agreement.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" color="#a6a6a6" face="Arial" style="color:#A6A6A6;font-size:11.0pt;font-weight:bold;">*********</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">8</font><a name="PB_8_221412_7608"></a></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><img width="115" height="88" src="g264593mo03i002.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">Telecom is the parent company of a leading telecommunications group in Argentina, where it offers, either itself or through its controlled subsidiaries local and long distance fixed-line telephony, cellular, data transmission and Internet services, among other services. Additionally, through a controlled</font><font face="Arial">  </font><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">subsidiary, the Telecom Group offers cellular services in Paraguay. The Company commenced operations on November&nbsp;8, 1990, upon the Argentine government&#146;s transfer of the telecommunications system in the northern region of Argentina.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><img width="259" height="208" src="g264593mo03i003.jpg"></font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">Nortel Inversora S.A. (&#145;Nortel&#146;), which   acquired the majority of the Company from the Argentine government, holds   54.74% of Telecom&#146;s issued common stock. Nortel is a holding company whose   common stock (approximately 78% of capital stock) is owned by Sofora Telecomunicaciones   S.A. Additionally, Nortel capital stock is comprised of preferred shares that   are held by minority shareholders.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">As of September&nbsp;30, 2017, Telecom   continued to have 984,380,978 shares issued and 969,159,605 shares   outstanding.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">For more information, please contact   Investor Relations:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Pedro Insussarry<br>   (5411) 4968 3743</font></p>    </td>
<td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Solange Barthe Dennin<br>   (5411) 4968 3752</font></p>    </td>
<td width="16%" valign="top" style="padding:0in 0in 0in 0in;width:16.66%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Luis F. Rial Ubago<br>   (5411) 4968 3718</font></p>    </td>
<td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Antonella Papaleo<br>   (5411) 4968 6236</font></p>    </td>
<td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Nahuel Monsalvo<br>   (5411) 4698 4448</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">Voice</font><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;"> Mail: (5411) 4968 3628</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">Fax: (5411) 4968 3616</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">E-mail: </font><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:8.0pt;">relinver@ta.telecom.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">For information about Telecom Group services, visit:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:8.0pt;">www.telecom.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:8.0pt;">www.personal.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:8.0pt;">www.personal.com.py</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:8.0pt;">www.arnet.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">Disclaimer</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">This document may contain statements that could constitute forward-looking statements, including, but not limited to, the Company&#146;s expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; the effects of its debt restructuring process; the impact of emergency laws enacted by the Argentine Government; and the impact of rate changes and competition on the Company&#146;s future financial performance. Forward-looking statements may be identified by words such as &#145;believes,&#146; &#145;expects,&#146; &#145;anticipates,&#146; &#145;projects,&#146; &#145;intends,&#146; &#145;should,&#146; &#145;seeks,&#146; &#145;estimates,&#146; &#145;future&#146; or other similar expressions. Forward-looking statements involve risks and uncertainties that could significantly affect the Company&#146;s expected results. The risks and uncertainties include, but are not limited to, the impact of emergency laws enacted by the Argentine government that have resulted in the repeal of Argentina&#146;s Convertibility law, devaluation of the peso, various changes in restrictions on the ability to exchange pesos into foreign currencies,&#160; and currency transfer policy generally, the &#145;pesification&#146; of tariffs charged for public services, the elimination of indexes to adjust rates charged for public services and the Executive branch announcement to renegotiate the terms of the concessions granted to public service providers, including Telecom. Due to extensive changes in laws and economic and business conditions in Argentina, it is difficult to predict the impact of these changes on the Company&#146;s financial condition. Other factors may include, but are not limited to, the evolution of the economy in Argentina, growing inflationary pressure and evolution in consumer spending and the outcome of certain legal proceedings. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as the date of this document. The Company undertakes no obligation to release publicly the results of any revisions to forward-looking statements which may be made to reflect events and circumstances after the date of this press release, including, without limitation, changes in the Company&#146;s business or to reflect the occurrence of unanticipated events. Readers are encouraged to consult the Company&#146;s Annual Report on Form&nbsp;20-F, as well as periodic filings made on Form&nbsp;6-K, which are filed with or furnished to the United States Securities and Exchange Commission for further information concerning risks and uncertainties faced by Telecom.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">(Financial tables follow)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">*******</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Mariano M. Ib&#225;&#241;ez</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Chairman</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">9</font><a name="PB_9_221412_8146"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><img width="115" height="88" src="g264593mo05i001.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A. <br>  </font></i></b><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">Consolidated information <br>  <i>Nine month period and Third Quarter - Fiscal Year 2017 <br>  </i>(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">1-</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">&#160;&#160; <b><u style="font-weight:bold;">Consolidated Balance Sheet</u></b></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="97%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.2in;">
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">12/31/16</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Cash and cash equivalents</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6,197</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,945</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,252</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">57.1%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Financial Investments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,982</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,751</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">231</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">13.2%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Trade receivables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,824</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,577</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">247</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3.3%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other Receivables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,171</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,011</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">160</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">15.8%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Inventories</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,951</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,278</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">673</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">52.7%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total current assets</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">19,125</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">15,562</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,563</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">22.9%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Financial Investments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">4,135</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">324</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,811</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Trade receivables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">16</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">208</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(192)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-92.3%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Property, plant and equipment (&#145;PP&amp;E&#146;)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">26,333</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">23,165</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,168</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">13.7%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Intangible assets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,194</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,592</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(398)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-5.2%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other Receivables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,232</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,063</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">169</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">15.9%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total non-current assets</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">38,910</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">32,352</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6,558</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">20.3%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total Assets</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">58,035</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">47,914</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">10,121</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">21.1%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Trade payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">10,660</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">8,979</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,681</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">18.7%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Deferred revenues</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">818</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">443</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">375</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">84.7%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Financial debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,816</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,266</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(450)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-13.8%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Salaries and social security payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,071</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,610</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">461</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">28.6%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Income tax payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,491</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">724</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,767</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other taxes payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,169</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,149</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">20</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1.7%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Dividend Payable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">20</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">20</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">88</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">69</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">19</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">27.5%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Provisions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">382</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">271</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">111</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">41.0%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total current liabilities</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">20,515</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">16,511</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,004</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">24.3%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Trade payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">169</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">152</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">17</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">11.2%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Deferred revenues</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">409</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">445</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(36)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-8.1%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Financial debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">8,995</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">8,646</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">349</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">4.0%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Salaries and social security payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">180</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">184</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(4)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-2.2%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Deferred income tax liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">188</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">569</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(381)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-67.0%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Income tax payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(4)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-57.1%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">212</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">170</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">42</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">24.7%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Provisions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,615</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,352</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">263</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">19.5%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total non-current liabilities</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">11,771</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">11,525</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">246</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2.1%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">TOTAL LIABILITIES</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">32,286</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">28,036</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,250</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">15.2%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Equity attributable to Telecom Argentina (Controlling Company)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">25,063</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">19,336</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">5,727</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">29.6%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">686</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">542</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">144</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">26.6%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">TOTAL EQUITY</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">25,749</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">19,878</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">5,871</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">29.5%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">TOTAL LIABILITIES AND EQUITY</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">58,035</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">47,914</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">10,121</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.22%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">21.1%</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">2-</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">&#160;&#160; <b><u style="font-weight:bold;">Consolidated Loans</u></b></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="97%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.2in;">
<tr>
<td width="55%" valign="bottom" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">12/31/16</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Bank overdrafts - principal (Personal)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">49</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,666</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,617)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-97.1%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Bank overdrafts - principal (Telecom Argentina)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">561</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">41</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">520</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Banks loans - principal (Nucleo)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">107</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">219</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(112)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-51.1%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Banks loans - Other - principal (Personal)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">620</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Notes - principal (Personal)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">718</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">566</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">152</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">26.9%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">NDF</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">26</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">24</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Accrued interest (Personal)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,352</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">145</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,207</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Accrued interest (N&#250;cleo)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(6)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-85.7%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Accrued interest (Telecom Argentina)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total Current Loans</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,816</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,266</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(450)</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-13.8%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Notes - principal (Personal)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">741</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,084</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,343)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-64.4%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Banks loans - IFC Loan - principal (Personal)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,963</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6,234</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,729</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">27.7%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Banks loans - principal (Nucleo)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">258</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">328</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(70)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-21.3%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">NDF</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">33</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">33</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total Non Current Loans</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,995</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,646</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">349</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4.0%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total Loans</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">11,811</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">11,912</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(101)</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-0.8%</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Cash and cash equivalents, and Financial Investments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">12,314</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6,020</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6,294</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">104.6%</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net Financial Position - Cash (Debt)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.42%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">503</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(5,892)</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6,395</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.54%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-108.5%</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">10</font><a name="PB_10_213725_4347"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">www.telecom.com.ar</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<div>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial"><img width="115" height="88" src="g264593mo07i001.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A. <br>  </font></i></b><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">Consolidated information <br>  </font></b><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Nine month period and Third Quarter - Fiscal Year 2017 <br>  </font></i></b><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .2in;text-indent:-.2in;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">3-</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">&#160;&#160; <b><u style="font-weight:bold;">Consolidated Income Statements</u></b></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:5.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="97%" style="border-collapse:collapse;margin-left:.2in;">
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/16</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt .05in .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:1.0pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">47,263</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">38,818</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,445</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">21.8%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other income</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">61</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">36</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">25</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">69.4%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total   Revenues&nbsp;&amp; Other Income</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">47,324</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">38,854</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,470</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">21.8%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Consolidated Operating   Costs</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(38,306)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(33,331)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(4,975)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">14.9%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">9,018</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">5,523</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,495</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">63.3%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Finance results, net</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(276)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,682)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,406</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-83.6%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net income before   income tax expense</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,742</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,841</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,901</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">127.6%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(3,047)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,346)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,701)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">126.4%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net income</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">5,695</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,495</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,200</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">128.3%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Telecom Argentina (Controlling Company)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5,641</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,471</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,170</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">128.3%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">54</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">24</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">30</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">125.0%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income   before D&amp;A</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">14,246</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">10,210</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,036</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">39.5%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">As % of Revenues</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">30.1%</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">26.3%</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Finance Income and   Expenses</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/16</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt .05in .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916; $</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt .05in .0001pt 0in;text-align:right;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><i><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-style:italic;">Finance Income</font></i></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Gains on investments</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">616</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">224</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">392</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">175.0%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Gains on Mutual Funds</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">92</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">30</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">62</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Interest on receivables</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">546</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">252</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">294</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">116.7%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Tuves Paraguay shares purchase option</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(7)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Foreign currency exchange gains</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">498</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">88</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">410</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Others</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">21</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">21</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total finance income</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,773</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">601</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,172</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">195.0%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><i><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-style:italic;">Finance expenses</font></i></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Interest on financial debt</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(659)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,200)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">541</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-45.1%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Interest on salaries and social security, other taxes and   accounts payable</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(38)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(25)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(13)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">52.0%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Interest on Provisions</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(237)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(166)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(71)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">42.8%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Present value effect of salaries and social security and other   taxes payables and other liabilities</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(17)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">15</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-88.2%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Quinquennial financial costs</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(35)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(28)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(7)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">25.0%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Foreign currency exchange losses</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,053)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(836)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(217)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">26.0%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Tuves Paraguay shares purchase option</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(22)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(22)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Others</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(3)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(11)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">8</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-72.7%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total finance   expenses</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(2,049)</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(2,283)</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">234</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-10.2%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.34%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(276)</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(1,682)</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,406</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-83.6%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">4-</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">&#160;&#160; <b><u style="font-weight:bold;">Consolidated Income Statements</u></b></font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:3.0pt;font-weight:bold;">&nbsp;</font></b></p>
<table border="0" cellspacing="0" cellpadding="0" width="97%" style="border-collapse:collapse;margin-left:.2in;">
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">Three&nbsp;Months&nbsp;Comparison</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/16</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:1.0pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:1.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">16,719</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:1.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">13,412</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:1.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,307</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:1.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">24.7%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other income</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">22</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">15</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total   Revenues&nbsp;&amp; Other Income</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">16,741</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">13,419</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,322</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">24.8%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Consolidated Operating   Costs</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(13,574)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(11,617)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,957)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">16.8%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,167</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,802</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,365</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">75.7%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Finance results, net</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(16)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(636)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">620</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-97.5%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net income before   income tax expense</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,151</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,166</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,985</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">170.2%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,095)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(408)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(687)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">168.4%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net income</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,056</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">758</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,298</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">171.2%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Telecom Argentina (Controlling Company)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,026</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">746</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,280</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">171.6%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">30</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">12</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">18</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">150.0%</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income   before D&amp;A</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,902</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,446</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,456</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">42.3%</font></b></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.6%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">As % of Revenues</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:2.4pt 0in .0001pt .1in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">29.3%</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">25.7%</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.28%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.02%;">
<p align="right" style="margin:2.4pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">11</font><a name="PB_11_214831_5529"></a></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<div>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><img width="115" height="88" src="g264593mo09i001.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A. </font></i></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">Consolidated information </font></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Nine month period and Third Quarter - Fiscal Year 2017 </font></i></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">(In million of Argentine pesos)</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .2in;text-indent:-.2in;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">5-</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">&#160;&#160; <b><u style="font-weight:bold;">Breakdown of the Income Statements</u></b></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="97%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:14.35pt;">
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<td width="59%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/16</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">REVENUES   FROM SERVICES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">41,646</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">32,874</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">8,772</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">26.7</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Fixed   Services</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">14,335</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">10,812</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">3,523</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">32.6</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Voice</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6,119</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,328</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,791</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">41.4</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Internet</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">5,621</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,351</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,270</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">29.2</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Data</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,595</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,133</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">462</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">21.7</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="1" face="Arial" style="font-size:9.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Mobile   Services</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">27,311</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">22,062</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">5,249</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">23.8</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-style:italic;font-weight:bold;">Telecom Personal</font></u></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">25,264</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">20,297</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,967</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">24.5</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Outbound</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">22,118</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">18,043</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,075</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">22.6%</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Postpaid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6,282</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5,033</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,249</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">24.8%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Monthly basic charges</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">9,659</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,496</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,163</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">28.9%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Prepaid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6,177</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5,514</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">663</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">12.0%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Inbound</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,949</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,168</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">781</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">66.9%</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">From Fixed services - CPP</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">776</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">494</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">282</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">57.1%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">From Mobile services - TLRD</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,173</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">674</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">499</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">74.0%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Others</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,197</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,086</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">111</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">10.2%</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-style:italic;font-weight:bold;">N&#250;cleo</font></u></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,047</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,765</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">282</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">16.0%</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Outbound</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,789</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,426</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">363</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">25.5%</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Postpaid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">58</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">44</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">14</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">31.8%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Monthly basic charges</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">710</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">560</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">150</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">26.8%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Prepaid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1021</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">822</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">199</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">24.2%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Inbound</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">101</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">95</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6.3%</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">From Fixed services -   Interconnection</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-28.6%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">From Mobile services - TLRD</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">96</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">88</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">8</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">9.1%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Others</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">157</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">244</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(87)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-35.7%</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">REVENUES   FROM EQUIPMENT SALES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">5,617</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">5,944</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">(327)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">-5.5</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Fixed   Services</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">294</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">78</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">216</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Mobile   Services</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">5,323</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">5,866</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">(543)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">-9.3</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Equipments (Personal)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5,250</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5,649</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(399)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-7.1%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Equipments (N&#250;cleo)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">73</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">217</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(144)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-66.4%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">REVENUES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">47,263</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">38,818</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">8,445</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">21.8</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">OTHER   INCOME</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">61</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">36</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">25</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">69.4</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Fixed</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">49</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">35</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">14</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">40.0%</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Mobile</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">12</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">11</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:59.4%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">TOTAL   REVENUES&nbsp;&amp; OTHER INCOME</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.6%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">47,324</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">38,854</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">8,470</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">21.8</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">%</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">12</font><font color="gray" face="Arial" style="color:gray;"><a name="PB_12_211630_2306"></a></font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">www.telecom.com.ar</font></p>    </td>   </tr>  </table>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
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<br clear="all" style="page-break-before:always;">
<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><img width="115" height="88" src="g264593mo11i001.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A. </font></i></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">Consolidated information </font></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Nine month period and Third Quarter - Fiscal Year 2017 </font></i></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">6-</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">&#160;&#160; <b><u style="font-weight:bold;">Breakdown of the Income Statements</u></b></font></p>
<p style="margin:0in 0in .0001pt .2in;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">Three&nbsp;Months&nbsp;Comparison</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="97%" style="border-collapse:collapse;margin-left:.2in;">
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/16</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM   SERVICES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">14,556</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">11,597</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">2,959</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">25.5%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Fixed Services</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">5,004</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">3,821</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">1,183</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">31.0%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Voice</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,143</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,577</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">566</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">35.9%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Internet</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,952</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,513</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">439</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">29.0%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Data</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">909</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">731</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">178</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">24.4%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-style:italic;font-weight:bold;">Mobile Services</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">9,552</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">7,776</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,776</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">22.8%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-style:italic;font-weight:bold;">Telecom Personal</font></u></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,772</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">7,139</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,633</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">22.9%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Outbound</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">7,718</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6,255</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,463</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">23.4%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Postpaid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,158</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,696</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">462</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">27.2%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Monthly basic charges</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,454</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,581</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">873</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">33.8%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Prepaid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,106</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,978</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">128</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6.5%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Inbound</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">626</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">443</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">183</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">41.3%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">From Fixed services - CPP</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">240</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">203</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">37</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">18.2%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">From Mobile services - TLRD</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">386</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">240</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">146</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">60.8%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Others</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">428</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">441</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-13</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-2.9%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">N&#250;cleo</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">780</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">637</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">143</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">22.4%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Outbound</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">689</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">510</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">179</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">35.1%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Postpaid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">22</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">14</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">8</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">57.1%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Monthly basic charges</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">285</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">198</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">87</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">43.9%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Prepaid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">382</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">298</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">84</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">28.2%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Inbound</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">37</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">33</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">12.1%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">From Fixed services - Interconnection</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-50.0%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">From Mobile services - TLRD</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">36</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">31</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">16.1%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Others</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">54</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">94</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(40)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-42.6%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM   EQUIPMENT SALES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">2,163</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">1,815</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">348</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">19.2%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Fixed Services</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">269</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">13</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">256</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Mobile Services</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">1,894</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">1,802</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">92</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">5.1%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Equipments (Personal)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,871</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,711</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">160</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">9.4%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Equipments (N&#250;cleo)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">23</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">91</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(68)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-74.7%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">REVENUES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">16,719</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">13,412</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">3,307</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">24.7%</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">OTHER INCOME</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">22</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">7</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">15</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Fixed</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">17</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">14</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">21.4%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Mobile</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-7</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">12</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-171.4%</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.38%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">TOTAL   REVENUES&nbsp;&amp; OTHER INCOME</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">16,741</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">13,419</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.32%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">3,322</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.36%;">
<p align="right" style="margin:1.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">24.8%</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">13</font><a name="PB_13_213819_24"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">www.telecom.com.ar</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<div>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><img width="115" height="88" src="g264593mo13i001.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A. <br>  </font></i></b><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">Consolidated information <br>  <i>Nine month period and Third Quarter - Fiscal Year 2017 <br>  </i>(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">7-</font></i></b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;">&#160;&#160; <b>Consolidated Income Statements</b></font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" bgcolor="black" style="background:white;border-collapse:collapse;">
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/16</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Revenues</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">47,263</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">38,818</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">8,445</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">21.8%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other income</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">61</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">36</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">25</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">69.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total Revenues&nbsp;&amp; Other Income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">47,324</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">38,854</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,470</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">21.8</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Employee benefit expenses and severance payments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(9,158)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(7,213)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,945)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">27.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Interconnection costs and other telecommunication charges</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,295)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,954)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(341)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">17.5%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Fees for services, maintenance, materials and supplies</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(4,756)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(3,580)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,176)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">32.8%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Taxes and fees with the Regulatory Authority</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(4,416)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(3,799)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(617)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">16.2%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Commissions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,685)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,795)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">110</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-3.9%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Cost of equipments and handsets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(4,638)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(4,631)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(7)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">0.2%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Advertising</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(769)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(548)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(221)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">40.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Cost of Value Added Services</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(690)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,142)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">452</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-39.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Provisions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(357)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(106)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(251)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Bad debt expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(920)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(844)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(76)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">9.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other operating expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,394)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,032)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(362)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">17.8%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Subtotal Operating costs before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(33,078)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(28,644)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(4,434)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">15.5</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">14,246</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">10,210</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,036</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">39.5</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">D&amp;A</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(5,133)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(4,485)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(648)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">14.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Disposals and Impairment of PP&amp;E</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(95)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(202)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">107</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-53.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">9,018</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">5,523</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,495</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">63.3</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Finance Income</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,773</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">601</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,172</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">195.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Finance Expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,049)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,283)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">234</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-10.2%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net income before income tax expense</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,742</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,841</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,901</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">127.6</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(3,047)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,346)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,701)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">126.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net Income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">5,695</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,495</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,200</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">128.3</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Telecom Argentina (Controlling Company)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">5,641</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,471</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,170</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">128.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:1.0pt 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt 15.15pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">54</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">24</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">30</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">125.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:1.0pt 0in .0001pt 15.15pt;text-align:right;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">14</font><a name="PB_14_214137_9655"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">www.telecom.com.ar </font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><img width="115" height="88" src="g264593mo15i001.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A. <br>  </font></i></b><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">Consolidated information <br>  <i>Nine month period and Third Quarter - Fiscal Year 2017 <br>  </i>(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .2in;text-indent:-.2in;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">8-</font></b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">&#160;&#160; <b><u style="font-weight:bold;">CONSOLIDATED INCOME STATEMENTS<br>  <br>  </u></b></font><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">Three&nbsp;Months&nbsp;Comparison</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" bgcolor="black" style="background:white;border-collapse:collapse;">
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<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">09/30/16</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Revenues</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">16,719</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">13,412</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">3,307</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">24.7%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other income</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">22</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">15</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total Revenues&nbsp;&amp; Other Income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">16,741</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">13,419</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,322</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">24.8%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Employee benefit expenses and severance payments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(3,280)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,778)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(502)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">18.1%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Interconnection costs and other telecommunication charges</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(763)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(624)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(139)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">22.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Fees for services, maintenance, materials and supplies</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,797)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,245)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(552)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">44.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Taxes and fees with the Regulatory Authority</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,546)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,305)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(241)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">18.5%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Commissions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(882)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(945)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">63</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-6.7%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Cost of equipments and handsets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,869)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,548)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(321)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">20.7%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Advertising</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(290)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(177)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(113)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">63.8%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Cost of Value Added Services</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(224)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(350)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">126</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-36.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Provisions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(98)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(25)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(73)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Bad debt expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(245)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(326)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">81</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-24.8%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other operating expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(845)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(650)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(195)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">30.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Subtotal Operating costs before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(11,839)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(9,973)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(1,866)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">18.7%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,902</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,446</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,456</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">42.3%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">D&amp;A</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,741)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,591)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(150)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">9.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Disposals and Impairment of PP&amp;E</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(53)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">59</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-111.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,167</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,802</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,365</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">75.7%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Finance Income</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">757</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">129</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">628</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Finance Expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(773)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(765)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(8)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net income before income tax expense</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,151</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,166</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,985</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">170.2</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,095)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(408)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(687)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">168.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net Income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,056</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">758</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,298</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">171.2%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Telecom Argentina (Controlling Company)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,026</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">746</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,280</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">171.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="bottom" style="padding:0in 0in 0in 0in;width:49.0%;">
<p style="margin:3.0pt 0in .0001pt 16.6pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">30</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">12</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">18</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">150.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">15</font><a name="PB_15_214620_5070"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">www.telecom.com.ar</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
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M]3Z5L?&:1XOA[.T;LC">+E3@]:S_ !#X-\5'XCR^)?#S:>/W2HGVES_<VG(
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M3JQM'$UM^YDR4[9[5LUY\X\KL>Q"7,KA1114E!2;1G.!FBB@!:*** "BBB@
;HHHH **** "BBB@!-HSG S2T44 %%%% '__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g264593mo15i001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g264593mo15i001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1" !8 ',# 2(  A$! Q$!_\0
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M]3Z5L?&:1XOA[.T;LC">+E3@]:S_ !#X-\5'XCR^)?#S:>/W2HGVES_<VG(
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M3JQM'$UM^YDR4[9[5LUY\X\KL>Q"7,KA1114E!2;1G.!FBB@!:*** "BBB@
;HHHH **** "BBB@!-HSG S2T44 %%%% '__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g264593mo02i001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g264593mo02i001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1" !8 ',# 2(  A$! Q$!_\0
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M]3Z5L?&:1XOA[.T;LC">+E3@]:S_ !#X-\5'XCR^)?#S:>/W2HGVES_<VG(
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M3JQM'$UM^YDR4[9[5LUY\X\KL>Q"7,KA1114E!2;1G.!FBB@!:*** "BBB@
;HHHH **** "BBB@!-HSG S2T44 %%%% '__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g264593mo02i002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g264593mo02i002.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1" #= +(# 2(  A$! Q$!_\0
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begin 644 g264593mo09i001.jpg
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MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#V:BBB@ HH
MHH **Y+Q9XDU.SUS3-"T..V^W7ZO(9[G)2*->2<#DGK7,ZA\0]0LO#]O<6VK
MZ9>2OJ2VDMPMG*J0H5SRA.2003QVH ]3HKS#3/B%K5W!I+R+9217>L&Q%Q'&
MP6>(#[RJ3E3GU_*DU_XAZOIUWJ\,+V4*6FJ06:2S1$A(W5BS-@\XP* /4**\
MNL_B+KFHVUG8VL-D=0O=0DM8+THXMY(D )D53R>O3-=+X2\1:C?:SK&AZTMN
MU]IC(?/MU*I*CC(."3@T =91110 4444 %%%% !1129'J* %HI,@49![T 8G
MB+PI9>(VM9II;BUO+1BUO=6S[)(\]<'T/H:R;?X:Z?"L9EO[^XF744U)I9'7
M<\JC SA>E=CGM1TH Y*?X;Z7-!=1)<7D/FWW]H0M$X4VTW<IQP#Z'/2FI\-=
M+%H(YKJ]GF:^2_FN)7#232+G ;C&WD\ 5U^1ZBCI0!C>(?"UEXB@MEF>:VGM
M)/-MKBV;9)"WL>GX4GASPK:>&_M4D,UQ=7=XX>XNKE]TDA'3)  P,]*VE8,,
MJ01[&D+*N-S 9Z9- #J**3(/>@!:*3('>EH **** *6LZ7#K>DW&GW#RI%<+
MM9HFVL.<\'\*\1T3P;::C\4-6\/37NH"RM$9HRL_SY&WJ<?[1KWNN#T/P;J6
MG_%+5O$$Y@^PW:,L85R7R=O48]CWH YKXW,+2;PW$99T@!=9/+8ABHV9^IQ6
ME\.%\*R>(9FT&36FNDMV+"])V;20#^.<5H?$SP;J_BBZT>XT8VH>Q=G/GN0,
MY4CH#G[M:7AP>-QJH_X2(:1]AV'/V7=OW=NO:@#E_.D_X:+\OS'\O[-G9N./
M]3Z5L?&:1XOA[.T;LC">+E3@]:S_ !#X-\5'XCR^)?#S:>/W2HGVES_<VG(
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M3JQM'$UM^YDR4[9[5LUY\X\KL>Q"7,KA1114E!2;1G.!FBB@!:*** "BBB@
;HHHH **** "BBB@!-HSG S2T44 %%%% '__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>g264593mo03i001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g264593mo03i001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1" !8 ',# 2(  A$! Q$!_\0
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M]3Z5L?&:1XOA[.T;LC">+E3@]:S_ !#X-\5'XCR^)?#S:>/W2HGVES_<VG(
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M3JQM'$UM^YDR4[9[5LUY\X\KL>Q"7,KA1114E!2;1G.!FBB@!:*** "BBB@
;HHHH **** "BBB@!-HSG S2T44 %%%% '__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>g264593mo03i002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g264593mo03i002.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1" !8 ',# 2(  A$! Q$!_\0
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M]3Z5L?&:1XOA[.T;LC">+E3@]:S_ !#X-\5'XCR^)?#S:>/W2HGVES_<VG(
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>** "BBB@ HHHH **** $VC.<#-+110 4444 ?__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>g264593mo03i003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g264593mo03i003.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1" #0 0,# 2(  A$! Q$!_\0
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<DOCUMENT>
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<DOCUMENT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
