<SEC-DOCUMENT>0001654954-16-002027.txt : 20160906
<SEC-HEADER>0001654954-16-002027.hdr.sgml : 20160906
<ACCEPTANCE-DATETIME>20160906085108
ACCESSION NUMBER:		0001654954-16-002027
CONFORMED SUBMISSION TYPE:	144
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160906
DATE AS OF CHANGE:		20160906

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IRSA INVESTMENTS & REPRESENTATIONS INC
		CENTRAL INDEX KEY:			0000933267
		STANDARD INDUSTRIAL CLASSIFICATION:	LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		144
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	001-13542
		FILM NUMBER:		161869920

	BUSINESS ADDRESS:	
		STREET 1:		BOLIVAR 108
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1066AAD
		BUSINESS PHONE:		00541143237449

	MAIL ADDRESS:	
		STREET 1:		BOLIVAR 108
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1066AAD

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IRSA INVESTMENTS & REPRESENTATIONS INC
		CENTRAL INDEX KEY:			0000933267
		STANDARD INDUSTRIAL CLASSIFICATION:	LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552]
		RELATIONSHIP:				OTHER
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		144

	BUSINESS ADDRESS:	
		STREET 1:		BOLIVAR 108
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1066AAD
		BUSINESS PHONE:		00541143237449

	MAIL ADDRESS:	
		STREET 1:		BOLIVAR 108
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1066AAD
</SEC-HEADER>
<DOCUMENT>
<TYPE>144
<SEQUENCE>1
<FILENAME>form144-irsavtasircp09022.htm
<DESCRIPTION>FORM 144
<TEXT>
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<div><font style="font-family: Times New Roman; font-size: 13px;"> </font>
<div style="text-align: center; padding-top: 5.5px; margin-left: 0px; margin-right: 320px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">UNITED STATES</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 250px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">SECURITIES AND EXCHANGE COMMISSION</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 307px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Washington, D.C. 20549</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 326px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 16px">FORM 144</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 228px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">NOTICE OF PROPOSED SALE OF SECURITIES</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 175px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933</font></div>
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<div style="text-align: justify; padding-top: 0.5px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 120px; margin-right: 140px; text-indent: -108px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; font-size: 13px">ATTENTION: </font><font style="font-style: italic">Transmit for filing 3 copies of this form concurrently with either placing an order with a broker to execute sale or executing a sale directly with a market maker.</font></font></div>&#xA0; <font style="font-family: Times New Roman; font-size: 13px;">
<br></font></div></td>
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<div style="text-align: left; margin-left: 36px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">OMB APPROVAL</font></div></td></tr><tr>
<td colspan="2" style="vertical-align: top; width: 17%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">OMB Number:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;3235-0101</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Expires:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;0D\ , 2017</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Estimated average burden</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">hours per response ........... 1.00</font></div></td></tr><tr>
<td colspan="2" style="vertical-align: top; width: 17%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 48px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">SEC USE ONLY</font></div></td></tr><tr>
<td colspan="2" style="vertical-align: top; width: 17%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">DOCUMENT SEQUENCE NO.</font></div></td></tr><tr>
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<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">CUSIP NUMBER</font></div></td></tr><tr>
<td colspan="3" rowspan="2" style="vertical-align: top; width: 55%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">1 <font style="font-style: italic">(a) </font>NAME OF ISSUER <font style="font-style: italic">(Please type or print)</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; padding-top: 1.1px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">IRSA PROPIEDADES COMERCIALES SA</font></div></td>
<td colspan="2" rowspan="2" style="vertical-align: top; width: 14%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-style: italic">(b) </font>IRS IDENT. NO.</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">00-0000000</font></div></td>
<td rowspan="2" style="vertical-align: top; width: 13%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-style: italic">(c) </font>S.E.C. FILE NO.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; padding-top: 1.1px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">000-30982</font></div>
<div style="text-align: justify; padding-top: 1.1px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td style="vertical-align: top; width: 0%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td colspan="2" style="vertical-align: top; width: 17%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">WORK LOCATION</font></div></td></tr><tr>
<td colspan="3" style="vertical-align: top; width: 18%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td></tr><tr>
<td colspan="6" rowspan="2" style="vertical-align: top; width: 82%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -2px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">1 <font style="font-style: italic">(d) </font>ADDRESS OF ISSUER&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;STREET&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;CITY&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;STATE&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;ZIP
CODE</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; padding-top: 0.3px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">MORENO 877, BUENOS AIRES, ARGENTINA, C1091AAQ</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 273px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(b)</font></div></td>
<td colspan="3" style="vertical-align: top; width: 18%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-style: italic">(e) </font>TELEPHONE NO.</font></div></td></tr><tr>
<td colspan="2" style="vertical-align: top; width: 5%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 7px">AREA COD</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">54</font></div></td>
<td style="vertical-align: top; width: 13%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 31px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 7px">NUMBER</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">11 4344-4600</font></div></td></tr><tr>
<td style="vertical-align: top; width: 30%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 1px; text-indent: -24px"><font style="font-family: Times New Roman; font-size: 13px">2 <font style="font-style: italic">(a) </font>NAME OF PERSON FOR WHOSE ACCOUNT THE SECURITIES ARE TO BE SOLD</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 1px; text-indent: -24px"><font style="font-family: Times New Roman; font-size: 13px">IRSA INVERSIONES Y REPRESENTACIONES SOCIEDAD AN&#xD3;NIMA</font></div></td>
<td style="vertical-align: top; width: 13%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td colspan="2" style="vertical-align: top; width: 12%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 6px; text-indent: 12px"><font style="font-family: Times New Roman; font-size: 13px">RELATIONSHIP TO ISSUER</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 6px; text-indent: 12px"><font style="font-family: Times New Roman; font-size: 13px">STOCKHOLDER</font></div></td>
<td colspan="5" style="vertical-align: top; width: 44%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-style: italic">(c) </font>ADDRESS STREET&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;CITY&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;STATE&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;ZIP
CODE</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">BOLIVAR 108 1ST FLOOR, BUENOS AIRES, ARGENTINA, C1066AAD</font></div>
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<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">3 <font style="font-style: italic">(a)</font></font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 17px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Title of the Class of Securities To Be Sold</font></div></td>
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<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(b)</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 22px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Name and Address of Each Broker Through Whom the Securities are to be Offered or Each Market Maker who is Acquiring the Securities</font></div></td>
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<div style="text-align: left; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">SEC USE ONLY</font></div></td>
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<div style="text-align: left; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(c)</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 6px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Number of Shares or Other Units To Be Sold</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 10px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(See instr. 3(c))</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 10px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(See instr. 3(d))</font></div></td>
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<div style="text-align: left; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(e)</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 6px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Number of Shares or Other Units Outstanding</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 10px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(See instr. 3(e))</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 11px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(See instr. 3(f))</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 4px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">(MO. DAY YR.)</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 11px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Name of Each Securities Exchange</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 9px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(See instr. 3(g))</font></div></td></tr><tr>
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<div style="text-align: left; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Broker-Dealer</font></div>
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<div style="text-align: left; margin-left: 24px; margin-right: 1px; text-indent: -24px"><font style="font-family: Times New Roman; font-size: 13px">American Depositary Shares, each representing 40 common shares</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: -24px"><font style="font-family: Times New Roman; font-size: 13px">JP MORGAN SECURITIES LLC</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: -24px"><font style="font-family: Times New Roman; font-size: 13px">277 Park Avenue</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">New York, NY 10172</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">315,000</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">12,379,500.00 (closing price September 2nd)</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">31,503,513</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">09 07 2016</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NASDAQ</font></div></td></tr><tr>
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<div style="text-align: left; padding-top: 0.7px; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; font-size: 13px">INSTRUCTIONS:</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;3
.. (a) Title of the class of securities to be sold</font></div>
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<div style="text-align: left; padding-top: 0.5px; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">1. (a) Name of issuer&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(b)
Name and address of each broker through whom the securities are intended to be sold</font></div>
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<div style="text-align: left; padding-top: 0.5px; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">(b) Issuer&#x2019;s I.R.S. Identification Number&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(c)
Number of shares or other units to be sold (if debt securities, give the aggregate face amount)</font></div>
<div style="text-align: left; padding-top: 0.5px; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">(c) Issuer&#x2019;s S.E.C. file number, if any&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(d)
Aggregate market value of the securities to be sold as of a specified date within 10 days prior to the filing of this notice</font></div>
<div style="text-align: left; padding-top: 0.5px; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">(d) Issuer&#x2019;s address, including zip code&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(e)
Number of shares or other units of the class outstanding, or if debt securities the face amount thereof outstanding, as shown</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; padding-top: 0.5px; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">(e) Issuer&#x2019;s telephone number, including area code&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;by
the most recent report or statement published by the issuer</font></div>
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<div style="text-align: left; padding-top: 0.5px; margin-left: 408px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">(f) Approximate date on which the securities are to be sold</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; padding-top: 0.5px; margin-left: 12px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">2 . (a) Name of person for whose account the securities are to be sold&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(g)
Name of each securities exchange, if any, on which the securities are intended to be sold</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; padding-top: 0.5px; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">(b) Such person&#x2019;s relationship to the issuer (e.g., officer, director, 10%</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; padding-top: 0.5px; margin-left: 24px; margin-right: 487px; text-indent: 24px"><font style="font-family: Times New Roman; font-size: 13px">stockholder, or member of immediate family of any of the foregoing) (c) Such person&#x2019;s address, including zip code</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; padding-top: 3.7px; margin-left: 240px; margin-right: -1px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Potential persons who are to respond to the collection of information contained in this form are not</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; font-size: 13px">required to respond unless the form displays a currently valid OMB control number.</font>&#xA0;<font style="font-family: Times New Roman">SEC 1147 (08-07</font>)</font></div>
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<div style="text-align: center; padding-top: 4.5px; margin-left: 0px; margin-right: 261px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">TABLE I &#x2013;&#x2013; SECURITIES TO BE SOLD</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; padding-top: 0.2px; margin-left: 0px; margin-right: 167px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">Furnish the following information with respect to the acquisition of the securities to be sold</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 140px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">and with respect to the payment of all or any part of the purchase price or other consideration therefor:</font></div>
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<div style="text-align: justify; padding-top: 0.4px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<tr>
<td style="vertical-align: top; width: 9%; border-left: 0.85pt solid #000000; border-top: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 36px; margin-right: 20px; text-indent: 12px"><font style="font-family: Times New Roman; font-size: 13px">Title of the Class</font></div></td>
<td style="vertical-align: top; width: 7%; border-left: 0.85pt solid #000000; border-top: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Date you</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Acquired</font></div></td>
<td style="vertical-align: top; width: 26%; border-left: 0.85pt solid #000000; border-top: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 8px">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font><font style="font-family: Times New Roman">Nature of Acquisition Transaction</font></font></div></td>
<td style="vertical-align: top; width: 27%; border-left: 0.85pt solid #000000; border-top: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 60px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Name of Person from Whom Acquired</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 60px; margin-right: -1px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">(If gift, also give date donor acquired)</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 17px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Amount of</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 4px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Securities Acquired</font></div></td>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Date of</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Payment</font></div></td>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; padding-top: 0.3px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 36px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Nature of Payment</font></div></td></tr><tr>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">American Depositary Shares, each representing 40 common shares</font></div></td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">11/30/2004</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">12/01/2004</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">04/12/2005</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">04/19/2005</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">05/02/2005</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">06/26/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">08/17/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">08/25/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">08/31/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">09/05/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">09/20/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">12/14/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">12/18/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">01/04/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">01/05/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">01/08/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">01/16/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">02/12/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">02/20/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">03/01/2007</font></div></td>
<td style="vertical-align: top; width: 26%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Negotiated, private transaction</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Open Market purchases</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td style="vertical-align: top; width: 27%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">GSEM/AP Holdings LP</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">NA</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td style="vertical-align: top; width: 10%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">176,883</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">190</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">200</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">100</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">100</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">3,598</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">1,000</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">10,900</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">1,232</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">100</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">500</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">56</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">9,400</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">5,100</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">8,300</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">4,025</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">2,000</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">2,900</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">23,200</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">65,216</font></div></td>
<td style="vertical-align: top; width: 7%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">11/30/2004</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">12/06/2004</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">04/15/2005</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">04/22/2005</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">05/05/2005</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">06/29/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">08/22/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">08/30/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">09/05/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">09/08/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">09/25/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">12/19/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">12/21/2006</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">01/09/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">01/10/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">01/11/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">01/19/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">02/15/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">02/23/2007</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">03/06/2007</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td style="vertical-align: top; width: 13%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash. See footnote 1</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Cash</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td></tr></table></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; padding-top: 2.1px; margin-left: 132px; margin-right: 342px; text-indent: -132px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; font-size: 13px">INSTRUCTIONS:</font><font style="font-size: 13px">&#xA0;</font>If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or
other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; padding-top: 0.5px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 184px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">TABLE II &#x2013;&#x2013; SECURITIES SOLD DURING THE PAST 3 MONTHS</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; padding-top: 0.2px; margin-left: 0px; margin-right: 41px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; padding-top: 0.1px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 44%; border-left: 0.85pt solid #000000; border-top: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 118px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Name and Address of Seller</font></div></td>
<td style="vertical-align: top; width: 24%; border-left: 0.85pt solid #000000; border-top: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 84px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Title of Securities Sold</font></div></td>
<td style="vertical-align: top; width: 8%; border-left: 0.85pt solid #000000; border-top: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Date of Sale</font></div></td>
<td style="vertical-align: top; width: 10%; border-left: 0.85pt solid #000000; border-top: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 19px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Amount of</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 13px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Securities Sold</font></div></td>
<td style="vertical-align: top; width: 14%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000; border-top: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 36px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Gross Proceeds</font></div></td></tr><tr>
<td style="vertical-align: top; width: 44%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td style="vertical-align: top; width: 24%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td style="vertical-align: top; width: 8%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td style="vertical-align: top; width: 10%; border-left: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td>
<td style="vertical-align: top; width: 14%; border-left: 0.85pt solid #000000; border-right: 0.85pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div></td></tr></table></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; padding-top: 3.1px; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; padding-top: 3.1px; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">&#xA0;REMARKS:</font></div>
<div style="column-count: 2; -webkit-column-count: 2; -moz-column-count: 2; column-gap: 11px; -webkit-column-gap: 11px; -moz-column-gap: 11px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; padding-top: 2.3px; margin-left: 12px; margin-right: 274px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">INSTRUCTIONS:</font></div>
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<div style="text-align: justify; padding-top: 0.5px; margin-left: 12px; margin-right: -2px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">See the definition of &#x201C;person&#x201D; in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule
144 to be aggregated with sales for the account of the person filing this notice.</font></div>
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<div style="text-align: left; padding-top: 3.1px; margin-left: 0px; margin-right: 18px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; font-size: 13px">ATTENTION: </font><font style="font-style: italic">The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of
the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule</font></font></div>
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<div style="text-align: left; padding-top: 0.3px; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the</font></div>
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<div style="text-align: left; padding-top: 2.7px; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">instruction given, that person makes such representation as of the plan adoption or instruction date.</font></div></div>
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<div style="text-align: left; padding-top: 1.2px; margin-left: 0px; margin-right: 0px; text-indent: 144px"><font style="font-family: Times New Roman; font-size: 13px">September 6, 2016&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;/s/
Saul Zang - First Vice Chairman</font></div>
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<div style="text-align: left; padding-top: 2.9px; margin-left: 204px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">DATE OF NOTICE&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(SIGNATURE)</font></div>
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<div style="text-align: left; margin-left: 120px; margin-right: -2px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">DATE OF PLAN ADOPTION OR GIVING OF INSTRUCTION,</font></div>
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<div style="text-align: left; padding-top: 4px; margin-left: 0px; margin-right: -1px; text-indent: 0px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">The notice shall be signed by the person for whose account the securities are to be sold. At least one copy</font></div></div>
<div style="text-align: left; margin-left: 156px; margin-right: -1px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">IF RELYING ON RULE 10B5-1</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic">of
the notice shall be manually signed.Any copies not manually signed shall bear typed or printed signatures.</font></font></div>
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<div style="text-align: left; margin-left: 48px; margin-right: -1px; text-indent: 0px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">ATTENTION: </font>Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)</font></div>
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<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">On November 30, 2004, IRSA Inversiones y Representaciones Sociedad An&#xF3;nima (&#x201C;IRSA&#x201D;) purchased from GSEM/AP Holdings LP (&#x201C;GSEM/AP&#x201D;), a wholly owned subsidiary of Goldman Sachs, 3,061,450 Convertible Notes and 1,114,520 American Depositary Shares (&#x201C;ADS&#x201D;) of IRSA Propiedades Comerciales SA (&#x201C;IRCP&#x201D;). IRSA paid U$S 15.3
million for such securities.</font></div>
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