<SEC-DOCUMENT>0000950123-11-031963.txt : 20110401
<SEC-HEADER>0000950123-11-031963.hdr.sgml : 20110401
<ACCEPTANCE-DATETIME>20110401135411
ACCESSION NUMBER:		0000950123-11-031963
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20110401
FILED AS OF DATE:		20110401
DATE AS OF CHANGE:		20110401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Adecoagro S.A.
		CENTRAL INDEX KEY:			0001499505
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - LIVESTOCK & ANIMAL SPECIALTIES [0200]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35052
		FILM NUMBER:		11730174

	BUSINESS ADDRESS:	
		STREET 1:		13-15 Avenue de la Liberte
		CITY:			N/A
		STATE:			N4
		ZIP:			L-1931
		BUSINESS PHONE:		352 2689-8213

	MAIL ADDRESS:	
		STREET 1:		13-15 Avenue de la Liberte
		CITY:			N/A
		STATE:			N4
		ZIP:			L-1931
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>y90591be6vk.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B><U>FORM 6-K</U></B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Report of Foreign Private Issuer</B></DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16 under the</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 0pt"><B>Securities Exchange Act of 1934</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>For the month of April, 2011</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><B>Commission File Number 001-35052</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Adecoagro S.A.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Translation of registrant&#146;s name into English)</DIV>



<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>13-15 Avenue de la Libert&#233;<BR>
L-1931 Luxembourg<BR>
R.C.S. Luxembourg B 153 681</B><BR>
(Address of principal executive office)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;20-F <FONT style="font-family: Wingdings">&#254;</FONT> Form 40-F <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(1): <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(7): <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant by furnishing the information contained in this
Form is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b) under
the Securities Exchange Act of 1934.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <FONT style="font-family: Wingdings">&#111;</FONT> No <FONT style="font-family: Wingdings">&#254;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection
with Rule&nbsp;12g3-2(b):
82-<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ANNOUNCEMENT OF RESULTS OF OPERATIONS FOR THE THREE AND TWELVE MONTH PERIODS ENDED DECEMBER
31, 2010
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March&nbsp;31, 2011, the registrant issued a press release pertaining to its results of
operations for the three month and twelve month periods ended December&nbsp;31, 2010. Attached hereto is
a copy of the press release. The financial and operational information contained in the press
release is based on audited consolidated financial statements presented in U.S. Dollars and
prepared in accordance with International Financial Reporting Standards.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The attachment contains forward-looking statements. The registrant desires to qualify for the
&#147;safe-harbor&#148; provisions of the Private Securities Litigation Reform Act of 1995, and consequently
is hereby filing cautionary statements identifying important factors that could cause the
registrant&#146;s actual results to differ materially from those set forth in the attachment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s forward-looking statements are based on the registrant&#146;s current
expectations, assumptions, estimates and projections about the registrant and its industry. These
forward-looking statements can be identified by words or phrases such as &#147;anticipate,&#148; &#147;believe,&#148;
&#147;continue,&#148; &#147;estimate,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;is/are likely to,&#148; &#147;may,&#148; &#147;plan,&#148; &#147;should,&#148; &#147;would,&#148;
or other similar expressions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The forward-looking statements included in the attached relate to, among others: (i)&nbsp;the
registrant&#146;s business prospects and future results of operations; (ii)&nbsp;the implementation of the
registrant&#146;s business strategy, including its development of the Ivinhema project; (iii)&nbsp;the
registrant&#146;s plans relating to acquisitions, joint ventures, strategic alliances or divestitures;
(iv)&nbsp;the implementation of the registrant&#146;s financing strategy and capital expenditure plan; (v)
the maintenance of the registrant&#146;s relationships with its customers; (vi)&nbsp;the competitive nature
of the industries in which the registrant operates; (vii)&nbsp;the cost and availability of financing;
(viii)&nbsp;future demand for the commodities the registrant produces; (ix)&nbsp;international prices for
commodities; (x)&nbsp;the condition of the registrant&#146;s land holdings; (xi)&nbsp;the development of the
logistics and infrastructure for transportation of the registrant&#146;s productions in the countries
where it operates; (xii)&nbsp;the performance of the South American and world economies; (xiii)&nbsp;weather
and other natural phenomena; (xiv)&nbsp;the relative value of the Brazilian Real, the Argentine Peso,
and the Uruguayan Peso compared to other currencies; and (xv)&nbsp;developments in, or changes to, the
laws, regulations and governmental policies governing the registrant&#146;s business, including
environmental laws and regulations; as well as other risks included in the registrant&#146;s other
filings and submissions with the United States Securities and Exchange Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These forward-looking statements involve various risks and uncertainties. Although the
registrant believes that its expectations expressed in these forward-looking statements are
reasonable, its expectations may turn out to be incorrect. The registrant&#146;s actual results could be
materially different from its expectations. In light of the risks and uncertainties described
above, the estimates and forward-looking statements discussed in the attached might not occur, and
the registrant&#146;s future results and its performance may differ materially from those expressed in
these forward-looking statements due to, inclusive, but not limited to, the factors mentioned
above. Because of these uncertainties, you should not make any investment decision based on these
estimates and forward-looking statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The forward-looking statements made in the attached relate only to events or information as of
the date on which the statements are made in the attached. The registrant undertakes no obligation
to update any forward-looking statements to reflect events or circumstances after the
date on which the statements are made or to reflect the occurrence of unanticipated events.</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SIGNATURES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Adecoagro S.A.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Carlos A. Boero Hughes</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name:&nbsp;Carlos A. Boero Hughes
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:0px">Title:&nbsp;Chief Financial Officer and <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Accounting Officer</div></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date: April&nbsp;1, 2011
</DIV>



<P align="right" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<P><DIV style="position: relative; float: left; width: 6%">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><BR><TABLE style="float: left; position: absolute; z-index: -1; width: 100%; margin-top: 1em"><TR><TD  align="center"><IMG src="y90591by9059101.gif" alt="(GRAPHIC)">
</TD></TR></TABLE><BR>
</DIV>






</DIV>
<DIV style="position: relative; float: right; width: 70%">
<div style="margin-left:25%">

<DIV align="left" style="font-size: 10pt; margin-top: 150pt"><B>Adecoagro recorded Adjusted EBITDA of $95.1&nbsp;million in 2010</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Luxembourg, March&nbsp;31</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>st</B></SUP><B>, 2011 </B>&#151; Adecoagro S.A. (NYSE: AGRO, Bloomberg: AGRO US,
Reuters: AGRO.K), one of the leading agricultural companies in South America, announced today its
results for the fourth quarter and twelve month period ended December&nbsp;31, 2010. The financial and
operational information contained in this press release is based on audited consolidated financial
statements presented in U.S. dollars and prepared in accordance with International Financial
Reporting Standards (IFRS).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Highlights</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Financial &#038; Operating Performance</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B><I>$ thousand</I></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg%)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg%)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">426,267</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">313,603</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">35.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">147,381</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">103,472</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">42.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBITDA</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Farming &#038; Land Transformation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65,735</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51,662</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">27.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35,871</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34,617</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">3.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugar &#038; Ethanol</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51,735</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(26,903</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24,977</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,103</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Corporate Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(22,353</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(22,262</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">0.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,704</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,142</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">30.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Adjusted EBITDA</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>95,116</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,497</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>3709.2</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>54,143</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>26,372</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>105.3</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Grains &#038; Oilseeds Production (tons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">618,834</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">414,962</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">49.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugarcane Crushed
(thousand tons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,066</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,215</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">83.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">850</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">32.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Farming Planted Area (Hectares)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">183,454</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">153,026</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">19.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugarcane Plantation Area (Hectares)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53,799</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49,470</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">8.8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="80%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Adecoagro recorded Adjusted EBITDA<SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP> of $54.1
million in 4Q10, driving Adjusted EBITDA for the 2010 fiscal year to
$95.1&nbsp;million, representing a $92.6&nbsp;million increase compared to
2009.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="80%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="2%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Please see &#147;Reconciliation of Non-IFRS measures&#148;
on page 24 for reconciliation of Adjusted EBITDA and Adjusted EBIT to
Profit/Loss. Adjusted EBITDA is defined as consolidated profit from
operations before financing and taxation, depreciation, amortization
and unrealized changes in fair value of long-term biological assets.
Adjusted EBIT is defined as consolidated profit from operations before
financing and taxation, and unrealized changes in fair value of
long-term biological assets. Adjusted EBITDA margin and Adjusted EBIT
margin are calculated as a percentage of gross sales.</TD>
</TR>

</TABLE>

</DIV>
</DIV>


<BR clear="all"><BR>

<DIV align="left" style="font-size: 10pt; margin-top: 200pt">&nbsp;</DIV>


<P align="right" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(ADECOAGRO LOGO)">
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Gross Sales in 2010 reached $426.3&nbsp;million, 35.9% higher than 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Sugar, Ethanol and Energy business Adjusted EBITDA increased $78.6&nbsp;million, from $(26.9) million in
2009 to $51.7&nbsp;million in 2010. This was driven by an 83.6% increase in sugarcane crushing volume as
a result of the completion of the Angelica mill greenfield project and the upgrade made in the
Usina Monte Alegre mill.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Farming and Land Transformation businesses Adjusted EBITDA grew 27.2% in 2010 compared to 2009,
from $51.7&nbsp;million in 2009 to $65.7&nbsp;million in 2010. The main drivers of Adjusted EBITDA growth
were:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A 19.9% increase in total crop and rice planted area and a significant increase in soybean and corn
yields in the 2009/10 harvest year compared to 2008/09 harvest year, resulting in a 49.1% increase
in production volume.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The sale of La Macarena, a 5,086 hectare farm located in Uruguay.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Net loss in 2010 totaled $44.8&nbsp;million, mainly affected by the recognition of a non-cash loss
(unrealized changes in fair value of long term biological assets) of $96.8&nbsp;million. The loss was
generated by a decrease in the fair value of our sugarcane plantation primarily as a result of
lower sugar price estimates used in our sugarcane valuation model.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Adecoagro began the 2010/11 harvest year and as of December&nbsp;31st, 2010, succesfully planted 156.3K
hectares. Total planted area is forecasted to reach approximately 190.0K hectares, 3.6% above the
previous harvest year. Rice planted area has increased by 50.8%, reaching a total of 27.4K hectares
in the 2010/11 harvest year.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt;margin-left:4%">Market Overview
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Rising standards of living in fast developing economies such as Brazil and China, coupled with
ambitious mandates to expand biofuels production, and extreme climate issues in the world&#146;s most
productive countries (Australia, Russia, Brazil, Thailand, Argentina, China, etc) have tightened
stock-to-use ratios across all agricultural products. Although supply continues to grow, driven by
new investments and opening of new areas for agricultural production, it is not being able to keep
up with the rapid growth in demand around the globe. This new scenario has caused an upward shift
in long term agricultural commodity prices, setting an attractive environment for low cost
commodity producers.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt;margin-left:4%">Strategy Execution
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company continues executing its strategy of transforming and adding value to its farms.
During 2010, Adecoagro,</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>transformed and put into production 6.5K hectares of undermanaged/undeveloped farmland, including
4.1K hectares of rice in the San Joaquin farm, our most important ongoing transformation project.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>purchased a 14.7K hectare rice farm with high potential for land transformation and value
creation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>continued operating its land under a sustainable production model based on no-till technology and
other best practices</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">
</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(ADECOAGRO LOGO)">
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Adecoagro continues implementing its growth plan in the Sugar, Etanol and Energy business. On
November&nbsp;26, 2010, the Ivinhema greenfield mill was granted the preliminary license by IMASUL
(&#147;Instituto de Meio Ambiente de Mato Grosso do Sul&#148;). This is an important milestone for this
greenfield project, and we are now finalizing the process to obtain the installation license to
commence construction operations at the industrial site by mid 2011.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Environmental and Social Commitments</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During 2010 we continued strengthening our environmental and social commitment. Together with
TNC (The Nature Conservancy) we are encouraging and helping land owners in Mato Grosso do Sul
upgrade their environmental standards in accordance with Brazilian environmental legislation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We continue supporting rural areas surrounding our operations. Our main focus is education and
nutrition. Through partnerships with highly qualified foundations such as &#147;Cimientos&#148; in Argentina
and &#147;Fundacao Bradesco&#148; in Brazil, we are engaged in projects to promote access to equal and
quality education for all children.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">
</DIV>
<P align="right" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(ADECOAGRO LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Operating Performance</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Farming Business
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Farming &#151; Selected Production Data</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="10" style="border-bottom: 1px solid #ffffff"><B><I>Planted Area (hectares)</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="10" style="border-bottom: 1px solid #ffffff"><B><I>Production (In Tons)</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="10" style="border-bottom: 1px solid #ffffff"><B><I>Yields (Tons per hectare)</I></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009/2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2008/2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009/2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2008/2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009/2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2008/2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Soybean</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62,443</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,315</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">63.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">192,951</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55,728</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">246.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">112.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Soybean 2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Crop</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,079</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,658</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-2.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,897</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,254</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">18.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">21.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Corn <SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,577</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">67.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">187,549</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">99,298</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">88.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">12.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Corn 2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Crop</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,040</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,492</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">15.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,024</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,053</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-20.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-30.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wheat <SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,332</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,708</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-8.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61,208</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,903</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-12.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-4.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sunflower</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,784</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,539</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-10.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,193</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,128</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-22.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-13.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cotton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">425</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,159</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-86.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,068</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,218</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-88.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-13.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Crops</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>163,680</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>134,136</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>22.0</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>524,890</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>317,582</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>65.3</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3.2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>35.4</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Rice</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,142</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,258</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">5.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">91,723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">94,968</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-3.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-8.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Coffee (perennial)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,632</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,632</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">0.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,221</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,412</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-7.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-7.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Farming</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>183,454</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>153,026</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>19.9</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>618,834</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>414,962</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>49.1</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3.4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.7</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>24.4</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Owned Croppable Area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106,626</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">110,231</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-3.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Leased Area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47,709</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,645</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">249.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Second Crop Area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,119</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,150</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-0.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Farming Area</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>183,454</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>153,026</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>19.9</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 1px solid #ffffff"><B>Productivity</B></TD>
    <TD>&nbsp;</TD>

</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 1px solid #ffffff"><B>Milking Cows (Average Heads)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 1px solid #ffffff"><B>Milk Production (MM of liters)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 1px solid #ffffff"><B>(Liters per cow per day)</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="38" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Dairy</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>% Change</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>% Change</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD nowrap align="right" colspan="2"><B>2009</B></TD>

    <TD nowrap align="right" colspan="1">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>% Change</B></TD>

    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Milk Production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,225</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,594</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-8.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41.60</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47.48</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-12.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-4.7</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 0px solid #ffffff"><B>Processed Rice (Tons)</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Rice</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>% Change</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Processed Rice</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">128.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">157.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-18.1</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes sorghum</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes barley, safflower and rapeseed for 2008/09 harvest year and barley for 2009/10 harvest
year</TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adecoagro&#146;s farming production increased 49.1% during the 2009/10 harvest year compared to the
2008/09 harvest year driven by an increase in planted area and an improvement in yields. Total
planted area increased 19.9% from 153.0 thousand hectares in the 2008/09 harvest year to 183.5
thousand hectares in the 2009/10 harvest year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Soybean and corn yields increased significantly in 2009/10 harvest year as a result of improved
climatic conditions compared to the previous harvest year, which had been affected by a severe
drought that impacted our main productive regions from mid 2008 to mid 2009. This fast recovery in
yields is largely due to the company&#146;s focus on constantly transforming and improving the
productivity of its land through application of no-till technology and other best practices (crop
rotation, water management, balanced fertilization, integrated pest management, etc).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">
</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(ADECOAGRO LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Farming &#151; 2010/2011 Harvest Year Planting Plan</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Current</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Area to be</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Total</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Harvested</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Planted Area</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Planted</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Planted Area</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Area</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Production</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Yields</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(hectares)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(hectares)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(hectares)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(hectares)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(tons)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(ton/hect)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Soybean</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52,028</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,162</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58,190</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Soybean 2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Crop</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,608</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,212</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31,820</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Corn <SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,210</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,460</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Corn 2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Crop</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">175</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,109</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,284</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wheat <SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,029</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,029</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,258</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">80,574</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sunflower</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,951</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,951</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cotton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,242</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,242</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Crops</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>127,283</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,694</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>160,976</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>25,258</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>80,574</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3.2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Rice</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,362</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,362</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Coffee (perennial)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,632</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,632</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Farming</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>156,277</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,694</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>189,970</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>25,258</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>80,574</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3.2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Owned Croppable Area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">108,210</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,240</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">119,449</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Leased Area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36,459</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">958</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37,417</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Double Crop Area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,608</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,496</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,104</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Farming</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">156,277</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,694</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">189,970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Includes sorghum</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Includes barley</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During 3Q10 and 4Q10, the Company began its planting activities for the 2010/11 harvest year.
As of December&nbsp;31<SUP style="FONT-size: 85%; vertical-align: text-top">st</SUP>, 2010, 156.3 thousand hectares were successfully planted. The
planting of wheat, sunflower, cotton and rice was completed as of December&nbsp;31<SUP style="FONT-size: 85%; vertical-align: text-top">st</SUP>, 2010,
while planting for soybean and corn is expected to continue until mid February. The Company
forecasts, subject to climatic conditions, overall planted area for the 2010/11 harvest year to
reach approximately 190.0 thousand hectares, a 3.6% increase compared to the 2009/10 harvest year.
Owned planted area has increased by 12.8 thousand hectares versus the previous season as a result
of the ongoing transformation of the San Joaquin, Santa Lucia and El Ombu farms, and the purchase
of a rice farm. Leased area in turn fell by 10.3 thousand hectares mainly as a result of an
increase in lease prices which reduced expected margins and returns below our hurdle rates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Also, during the end of the fourth quarter, we began the harvest of our wheat crop, which was 90.1%
complete by year end. The crop has achieved average yields of 3.2 tons per hectare, showing a 39.1%
increase compared to the previous harvest year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">
</DIV>
<P align="right" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(IMAGE)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sugar, Ethanol &#038; Energy Business
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Sugar, Ethanol &#038; Energy &#151; Selected Production Data</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Crushed Cane (Tons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,066,115</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,215,029</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">83.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,125,236</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">849,882</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">32.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Own Cane</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">95.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">93.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">94.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">97.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-3.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Third Party Cane</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">4.8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">6.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-23.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">5.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">114.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugar (Tons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">235,690</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52,968</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">345.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,689</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,788</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">252.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ethanol (M3)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">174,303</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">132,492</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">31.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40,217</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51,007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-21.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Exported Energy (MWh)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">168,644</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">128,291</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">31.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68,565</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">80,617</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-14.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expansion &#038; Renewal Area (Hectares)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,998</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,670</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-54.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,102</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,072</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-46.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harvested Area (Hectares)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40,263</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,222</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">81.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,092</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,815</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">25.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugarcane Plantation (Hectares)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53,799</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49,470</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">8.8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53,799</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49,470</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">8.8</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cane crushing volume increased 83.6% as a result of the expansion of the Angelica mill and the
upgrade of the Usina Monte Alegre (&#147;UMA&#148;) mill. By the end of 2010, Adecoagro completed the
construction and assembly of the Angelica mill, which reached a nominal crushing capacity of 4
million tons per year. Construction of Angelica&#146;s sugar factory was also concluded and became
operational in June&nbsp;2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During 2009, we completed the installation of a new high pressure steam boiler at the UMA, which
allowed the mill to expand crushing capacity from 0.8&nbsp;million tons of sugarcane to 1.2&nbsp;million.
Furthermore, this investment allows UMA to use all the bagasse byproduct to cogenerate electricity
for both the mill&#146;s own use and to sell to the power grid. Actual crushing volumes during 2010
reached 2.9&nbsp;million tons in Angelica (73% of nominal capacity) and 1.1&nbsp;million tons in UMA (92% of
nominal capacity). The company expects to achieve full utilization of installed capacity in its two
mills (4.0&nbsp;million tons in Angelica and 1.2&nbsp;million tons in UMA) during the next couple of years,
as the company&#146;s sugarcane plantations continue to expand.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(IMAGE)">

</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(IMAGE)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Financial Performance</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Farming &#038; Land Transformation Businesses
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Farming &#038; Land Transformation Business &#151; Financial Highlights</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Gross Sales</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Farming</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">197,742</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">216,016</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-8.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43,460</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64,486</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-32.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>Total Gross Sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>197,742</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>216,016</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-8.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>43,460</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>64,486</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-32.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Adjusted EBITDA</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Farming</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44,898</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,823</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">36.8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,034</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,778</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-4.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Land Transformation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,837</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,839</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">10.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,837</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,839</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">10.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Adjusted EBITDA</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>65,735</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>51,662</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>27.2</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>35,871</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>34,617</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>3.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Adjusted EBIT</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Farming</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39,902</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,979</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">42.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,357</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,451</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-7.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Land Transformation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,837</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,839</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">10.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,837</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,839</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">10.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Adjusted EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>60,739</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>46,818</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>29.7</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>34,194</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,290</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>2.7</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adjusted EBIT<SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP> of the Farming and Land Transformation businesses increased 29.7%,
from $46.8&nbsp;million in 2009 to $60.7&nbsp;million in 2010, mainly driven by a $12.8&nbsp;million increase in
the crops segment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adecoagro uses the Adjusted EBIT performance measure rather than Adjusted EBITDA to compare its
different farming businesses. Different farming businesses or production models may have more or
less depreciation or amortization based on the ownership of fixed assets employed in production.
Consequently, similar type costs may be expensed or capitalized. For example, Adecoagro&#146;s farming
business in Argentina is based on a &#147;contractor&#148; production model, wherein the Company hires
planting, harvesting and spraying services from specialized third party machine operators. This
model minimizes the ownership of fixed assets, thus, reducing depreciation and amortization. On
the other hand, operating fees are expensed increasing production costs. The Adjusted EBIT measure
reduces this gap between different business models and allows for a more comparable benchmark.
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Please see &#147;Reconciliation of Non-IFRS measures&#148; on page 24 for reconciliation
of Adjusted EBITDA and Adjusted EBIT to Profit/Loss. Adjusted EBITDA is defined as consolidated
profit from operations before financing and taxation, depreciation, amortization and unrealized
changes in fair value of long-term biological assets. Adjusted EBIT is defined as consolidated
profit from operations before financing and taxation, and unrealized changes in fair value of
long-term biological assets. Adjusted EBITDA margin and Adjusted EBIT margin are calculated as a
percentage of gross sales.</TD>
</TR>

</TABLE>

 <DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(IMAGE)">

</DIV>


<P align="right" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(IMAGE)">
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Crops
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Crops &#151; Highlights</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>metric</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="27" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top" nowrap><I>$ thousand</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">108,162</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">92,029</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">17.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,155</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,774</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-20.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">530,892</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">366,508</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">44.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70,602</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">99,683</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-29.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adj EBITDA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><I>$ thousand</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,613</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,120</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">59.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,768</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,155</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-13.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adj EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top" nowrap><B><I>$ thousand</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>31,902</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19,054</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>67.4</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8,130</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,157</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><B>-11.2</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Area under production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">134,562</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">104,986</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">28.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adjusted EBIT of our Crops segment increased 67.4%, from $19.1&nbsp;million in 2009 to $31.9
million in 2010, mainly due to: (i)&nbsp;an increase in yields, primarily in soybean, as a result of
climatic conditions returning to normal following the severe drought that impacted our main
productive regions from mid 2008 until mid 2009; (ii)&nbsp;a decrease in production costs, primarily due
to the price impact the financial crisis of 2008 had on fertilizers and agrochemicals; (iii)&nbsp;an
increase in production area mainly due to the expansion of our leased area in Argentina and
Uruguay; and (iv)&nbsp;the continuous improvement of soil productivity as a result of the ongoing land
transformation process.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Crops &#151; Sales Breakdown</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B><I>Crop</I></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="10"><B><I>thousand $</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="10"><B><I>thousand tons</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="10"><B><I>$ per unit</I></B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Soybean</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64,890</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35,696</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">81.8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">250.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">120.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">108.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">259.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">296.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-12.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Corn <SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,881</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,654</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">76.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">201.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">100.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">128.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">145.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-12.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wheat <SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,110</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,324</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-31.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-28.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">150.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">158.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-4.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sunflower</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,880</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,517</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-11.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-39.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">291.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">198.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">47.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cotton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,395</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,905</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-79.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-87.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,314.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">801.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">64.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Soybean meal &#038; oil</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-100.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-100.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">343.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-100.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Others</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,006</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,434</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-77.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>108,162</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>92,029</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>17.5</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>530.9</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>366.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>44.9</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 1pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes sorghum</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes barley</TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Soybean and Corn sales increased 81.8% and 76.6% respectively during 2010 as a result of the
higher yields and larger planted area during the 2009/10 harvest year.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(IMAGE)">

</DIV>




<P align="right" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(IMAGE)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Crops &#151; Changes in Fair Value Breakdown</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 7pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff">Soy 2nd</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #ffffff">Corn 2nd</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #ffffff">as of December 31st, 2010</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" style="border-bottom: 1px solid #ffffff">metric</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Soy</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Crop</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Corn</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Crop</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Wheat</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Sunflower</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Cotton</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Total</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="35" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>2009/10 harvest year</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Harvested area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62,443</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,079</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,577</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,040</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,332</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,784</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">425</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">163,680</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Changes in
Fair Value in 2010 from harvested area 2009/10 (i)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,081</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,914</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,049</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">281</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(547</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">101</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,879</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>2010/11 harvest year</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Planting plan (a&#043;b&#043;c&#043;d)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58,190</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31,820</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,460</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,284</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,029</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,951</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,242</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">160,976</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap><DIV style="margin-left:30px; text-indent:-15px">Area remaining to be planted (a)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,162</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,212</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,210</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,109</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,694</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Planted area in initial growing stages (b)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,185</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,608</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,099</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">175</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,924</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,242</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,232</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Planted area with significant biological growth (c)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,843</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,151</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,772</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,028</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,793</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Changes in
Fair Value 2010 from planted area 2010/2011 with significant
biological growth (ii)</div></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,547</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,865</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">781</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">527</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,719</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Harvested area (d)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,258</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,258</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Changes in
Fair Value 2010 from harvested area 2010/11 (iii)</div></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,281</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,281</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="35" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Changes in Fair Value in 2010 (i&#043;ii&#043;iii)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>17,629</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,914</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,914</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>281</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,062</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(21</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>101</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>38,879</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="35" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The table above shows how gains or losses from crop production that were generated during the
2009/10 and 2010/11 harvest years flow into the 2010 fiscal year. Biological growth of 2009/10
summer crops (soybean, corn, sunflower, cotton, etc), mostly harvested between February and May
2010, generated a gain in &#147;Initial recognition and changes in fair value of biological assets and
agricultural produce&#148; (&#147;Changes in Fair Value&#148;) of $21.9&nbsp;million in 2010. Winter crops, mainly
wheat and barley, harvested in December&nbsp;2010, generated Changes in Fair Value of $8.3&nbsp;million.
Finally, summer crops and some un-harvested wheat corresponding to the 2010/11 season, which were
planted and had attained significant biological growth by December&nbsp;31<SUP style="FONT-size: 85%; vertical-align: text-top">st</SUP> 2010, generated
a Change in Fair Value of $8.7&nbsp;million in 2010 fiscal year. As a result, total Changes in Fair
Value was $38.9&nbsp;million for 2010.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Crops &#151; Gain / Loss From Open Hedged Positions</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Gain/loss booked</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Volume</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>in 2010 ($</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Country</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><B>Product</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><B>Type of contract</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(thousand ton)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Hedge price ($/ton)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>thousands)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px; background: #cceeff">
    <TD colspan="2" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">ARG</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Soybean</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Forward</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">80.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">241</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,774</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">Soybean</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">Future</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">241</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,789</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">Corn</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">Forward</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">143</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,179</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">Corn</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">Future</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">142</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">141</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Sunflower</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Forward</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">322</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Wheat</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Future</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">URU</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">Soybean</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">Forward</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">351</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">BRA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Soybean</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Forward</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">309</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Cotton</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Forward</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,176</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="2" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>206.7</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(6,587</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px; padding-top: 0em">
    <TD colspan="2" align="left" style="border-top: 0px double #000000">&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As of December&nbsp;31, 2010, open hedge positions for the 2010/11 harvest year production stood at
206.7 thousand tons of crops. All futures contracts and only the portion of forward contracts which
are linked to biological assets with significant biological growth generate gains or losses in the
Statement of Income,
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(IMAGE)">

</DIV>



<P align="right" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(IMAGE)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">resulting from the mark-to-market of the contracts at year end. As a result of
the increase in commodity prices during 4Q10, we recognized non-cash losses from our open hedge
positions of $6.6&nbsp;million. These losses impact the &#147;Other Operating Income, net&#148; line item of the
2010 Statement of Income.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Rice
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Rice &#151; Highlights</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><B>metric</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="27" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>$ thousand</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,350</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-11.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,149</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,855</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">8.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adj EBITDA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>$ thousand</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,122</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,244</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-46.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,542</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,666</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">292.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="27" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adj EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap><B><I>$ thousand</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,041</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11,792</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><B>-57.2</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,967</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,439</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>314.7</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Area under production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,142</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,258</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">5.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Rice Mills</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Own production of rough rice</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>thousand tons<SUP style="FONT-size: 85%; vertical-align: text-top"> (1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">83.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-9.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">11.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Third party rough rice purchases</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">thousand tons</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">73.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-28.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-96.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales of Processed Rice</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">thousand tons</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">149.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">183.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-18.8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-9.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ending stock</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">thousand tons</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-8.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-8.3</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Rough rice equivalent</TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Rice yields and production during the 2009/10 harvest year in Argentina were negatively
impacted by a lack of sun radiation received by rice plants during their critical growth stage due
to an unusually high number of cloudy days. This was the main driver of the decrease in production.
Additionally, due to the lack of rough rice in the market, our rough rice purchases decreased by
28.2%. The reduction in rice processing volume was partially offset by an increase in domestic
white rice prices. As a result, Adjusted EBIT for the Rice segment decreased 57.2%, from $11.8
million in 2009 to $5.0&nbsp;million in 2010.
</DIV>







<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(IMAGE)">

</DIV>







<P align="right" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(IMAGE)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Rice &#151; Changes in fair value breakdown</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><I>as of December 31st, 2010</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><I>metric</I></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Northeast Argentina</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>2009/10 harvest year</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Harvested area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,142</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Yield achieved</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>tons/hectare</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Changes in Fair Value in 2010 from harvested area 2009/10 (i)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="bottom" nowrap align="right"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,087</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt">
<td>&nbsp;</td>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>2010/11 harvest year</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt">
<td>&nbsp;</td>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Planting plan (a&#043;b&#043;c&#043;d)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,362</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Area remaining to be planted (a)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Planted area in initial growing stages (b)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,428</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Planted area with significant biological growth (c)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,934</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Changes in Fair Value in 2010 from planted area 2010/2011 with
significant biological growth (ii)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="bottom" nowrap align="right"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,273</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Harvested area (d)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Yield achieved</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>tons/hectare</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Changes in Fair Value in 2010 from harvested area 2010/11 (iii)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="bottom" nowrap align="right"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt">
<td>&nbsp;</td>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Changes in Fair Value in 2010 (i&#043;ii&#043;iii)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="bottom" nowrap align="right"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,360</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Rice of the 2009/10 harvest year, mostly harvested between February and March&nbsp;2010, generated
Changes in Fair Value of $3.1&nbsp;million in 2010. Rice planted during the 2010/11 harvest year, which
had attained significant biological growth as of December&nbsp;31<SUP style="FONT-size: 85%; vertical-align: text-top">st</SUP> 2010, generated Changes
in Fair Value of $6.3&nbsp;million in 2010. As a result, total Changes in Fair Value was $9.4&nbsp;million
for 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dairy
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Dairy &#151; Highlights</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><B>metric</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="29" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,297</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,894</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">20.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,254</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,722</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">56.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">thousands liters</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,597</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47,479</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-12.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adj EBITDA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,649</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">447.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,106</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">849</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">30.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adj EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="bottom" align="right"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,226</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>81</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>2648.2</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>957</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>756</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>26.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Milking cows</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">Average Heads</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,225</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,594</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-8.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Area under production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,649</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,748</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-3.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During 2010, we completed the construction of the second and final phase of our first free
stall dairy. This state-of-the-art dairy facility allows large scale milk production at increased
efficiency levels. The project, which mainly consisted on building two sheds for 1,500 milking cows
each and a milking mechanism consisting of an 80-cow rotary platform, was completed during May&nbsp;2010
reaching full utilization of installed capacity by the end of the year. As a result of the natural
adaptation of cows to the new environment, milk production decreased 12.4% during 2010. However,
Adjusted EBIT for our Dairy segment increased from $0.08&nbsp;million in 2009 to $2.2&nbsp;million in 2010
due to a 46% increase in raw milk market prices, from $23.5 cents/liter to $34.4 cents/liter.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(IMAGE)">

</DIV>






<P align="right" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(IMAGE)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Coffee
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Coffee &#151; Highlights</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><B>metric</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="29" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,572</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-46.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,904</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,674</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-48.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,989</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,808</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-29.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adj EBITDA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,854</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,550</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-19.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,944</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(516</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">470.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adj EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="bottom" align="right"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(3,303</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(4,120</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><B>-19.8</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(3,233</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(435</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>643.1</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Coffee plantation area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,632</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,632</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">0.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adjusted EBIT of the Coffee segment remained negative in 2010 due to low yields and negative
hedging results for the 2010/11 production (see table below). We expect operating performance to
improve in the upcoming years as a result of the investments made in pruning, aiming at improving
the growth pattern and productivity of our coffee trees.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Coffee &#151; Gain/Loss from open hedged positions</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Volume</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Hedge price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Gain/loss recorded</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Country</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Product</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Type of contract</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>(thousand tons)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>(cts/lb)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>in 2010 ($ thousands)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="17" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Future March</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">205</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(317</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">BRA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Coffee</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">OTC July</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">170</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(662</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">OTC July</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">173</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(638</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="17" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>1.3</B></TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>182.4</B></TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>(1,617</B></TD>
    <TD nowrap valign="top"><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="17" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As of December&nbsp;31 2010, our open hedging positions for coffee amounted to 1.3 thousand tons.
The increase in coffee prices during 4Q10 generated a non-cash loss of $1.6&nbsp;million, resulting from
the mark-to-market of all futures contracts and over the counter (&#147;OTC&#148;) contracts at year end.
These losses impacted the 2010 Statement of Income in the &#147;Other Operating Income, net&#148; line item.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cattle
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Cattle &#151; Highlights</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><B>metric</B></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="29" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,478</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-78.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,998</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,461</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-89.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adj EBITDA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right"><I>$ thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,369</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">186.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,562</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,624</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-56.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adj EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="bottom" align="right"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,036</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,172</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>244.3</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,536</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,534</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><B>-56.5</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Area under production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81,327</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106,375</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-23.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adjusted EBIT from our Cattle segment increased 244.3% in 2010, from $1.2&nbsp;million to $4.0
million, mainly due to the 10-year lease agreement under which, as of December&nbsp;2009, most of the
Company&#146;s productive land not suitable for crop production was leased to a third party for beef
cattle grazing. The payments we receive under the lease agreement are fixed in kilograms of beef
per hectare and tied to the market price of beef.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(IMAGE)">

</DIV>




<P align="right" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(IMAGE)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Land transformation business
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Land transformation &#151; Highlights</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><B>metric</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="17" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adj EBITDA</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="bottom" nowrap align="right"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20,837</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>18,839</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>10.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Land acquired</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,749</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Land sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,086</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>1.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adjusted EBITDA from our Land transformation business increased 10.6% in 2010, from $18.8&nbsp;million
to $20.8&nbsp;million due to the sale of &#147;La Macarena&#148; farm in Uruguay in December&nbsp;2010, which generated
$2.0&nbsp;million more compared to the sale of &#147;La Paz&#148; farm in Argentina completed in December&nbsp;2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">La Macarena is a 5,086 hectare farm located in Uruguay, purchased by Adecoagro in 2004 for $1,750
per hectare. The farm was originally used for cattle grazing activities but had potential for crop
production. We developed a sustainable production model that was applied in La Macarena and
immediately began producing soybean, corn and wheat over all potentially croppable areas. After six
years of enhancing its productivity by applying no-till technology, crop rotation, and other best
practices, we sold the property for a total price of $34.0&nbsp;million (plus the value of planted
crops), equivalent to $6,685 per hectare, obtaining a 24.6% IRR.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company continues to execute its strategy of developing, transforming and adding value to its
land portfolio. During 2010 we began the transformation process and put into production 6,490
hectares of undermanaged and undeveloped farmland.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our most important ongoing transformation project during the last two years has been the San
Joaquin rice farm. San Joaquin is a 34,419 hectare farm purchased by Adecoagro in 2007. The farm
was mostly dedicated to cattle grazing, with only 1,800 hectares used for rice production. The
farm&#146;s eastern boundary lies on the Parana River, giving it access to a great source of water for
irrigation. During 2008 we performed a project feasibility study together with an environmental
impact study, and concluded that the farm has the potential to produce up to 10,000 hectares of
rice in a sustainable and economic manner. During 2009 after obtaining all the necessary permits
and licenses from state agencies, we began the transformation and land systematization process by
building irrigation channels and pumping stations for water inflow and outflow, and designing the
rice fields. The project has had an important social and economic impact on the local towns by
creating over 160 direct job positions in addition to countless indirect labor (logistics,
suppliers, contractors, vendors, etc). During 4Q10, we successfully planted 8,600 hectares of rice
which have been properly irrigated and are developing as expected, supporting our thesis of the
value that this project is creating for the Company and local population.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On August&nbsp;23<SUP style="FONT-size: 85%; vertical-align: text-top">rd</SUP>, 2010, we purchased a 14,749 hectare rice farm in Argentina with high
transformation potential for $20.1&nbsp;million. The farm currently has 4,500 hectares suitable for rice
production and approximately 6,500 hectares of cattle pastures with potential for transformation
into rice fields. We believe this project will have a positive impact on the Company&#146;s net asset
value and generate valuable social and economic benefits in the region.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(IMAGE)">

</DIV>




<P align="right" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(IMAGE)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sugar, Ethanol &#038; Energy business
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Sugar Ethanol &#038; Energy &#151; Highlights</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B><I>$ thousand</I></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Sales Angelica</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">154,716</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55,186</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">180.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55,645</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">312.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Sales UMA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">73,810</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42,401</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">74.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,277</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,504</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">89.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Gross Sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>228,526</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>97,587</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>134.2</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>103,922</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>38,986</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>166.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adj EBITDA Angelica</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,869</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(12,758</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,456</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,102</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">186.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adj EBITDA UMA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,866</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14,145</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,521</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(9,205</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Adjusted EBITDA</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>51,753</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(26,903</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>24,977</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(3,103</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adj EBITDA Margin Angelica</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">19.30</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-23.12</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">31.37</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">45.26</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-30.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adj EBITDA Margin UMA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">29.62</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-33.36</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">15.58</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-36.09</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBITDA Margin Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>22.64</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><B>-27.57</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>24.03</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><B>-7.96</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap><DIV style="margin-left:15px; text-indent:-15px">Sugarcane Crushed (thousand tons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,066</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,215</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>83.6</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">850</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>32.4</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugarcane plantation (Hectares)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53,799</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49,470</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>8.8</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adjusted EBITDA of our Sugar, Ethanol and Energy business increased $78.6&nbsp;million, from
$(26.9) million in 2009 to $51.7&nbsp;million in 2010, mainly as a result of the investments in our two
mills during previous periods as explained on page 4.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Usina Monte Alegre (UMA)&nbsp;mill has a long history in the business. During 2008 and 2009, we invested
in a high pressure steam boiler that allowed us to expand the crushing capacity and to achieve full
cogeneration. This resulted in an Adjusted EBITDA of $21.9&nbsp;million in 2010 representing a 29.6%
Adjusted EBITDA margin.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Sugar Ethanol &#038; Energy &#151; Sales Breakdown</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="10" style="border-bottom: 1px solid #ffffff"><B>$ thousand</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="10" style="border-bottom: 1px solid #ffffff"><B>thousands of units</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>($/ unit)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>% Change</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugar (tons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">98,385</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,143</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">276.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">233.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">211.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">421.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">348.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">20.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ethanol (cubic meters)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">114,793</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62,811</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">82.8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">189.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">145.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">29.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">607.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">430.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">41.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Energy (Mwh)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,040</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,216</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">83.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">178.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">128.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">39.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">66.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">26.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">308</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">417</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-26.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>228,526</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>97,587</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>134.2</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="37" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sales increased 134.2% from $97.6&nbsp;million in 2009 to $228.5&nbsp;million in 2010 as a result of the
increase in sugar, ethanol and energy production following the expansion in the company&#146;s sugarcane
milling capacity and an increase in average prices for all three products. Sugar sales increased
significantly more than ethanol sales as a result of the start of operations of Angelica&#146;s sugar
factory during June&nbsp;2010.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(IMAGE)">

</DIV>


<P align="right" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAFICS)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Sugar, Ethanol &#038; Energy &#151; Industrial indicators</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><I>metric</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q09</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="29" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugarcane milling Angelica</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right"><I>thousand tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,928</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,468</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">99.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">913</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">527</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">73.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugarcane milling UMA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>thousand tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,138</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">747</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">52.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">212</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">323</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-34.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugarcane milling Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>thousand tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,066</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,215</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">83.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">850</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">32.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Own sugarcane</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" colspan="2"><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">95.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">93.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">94.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">97.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-3.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="29" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugar Production mix</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" colspan="2"><I>%</I></TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">45.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">19.8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">129.8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">51.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">19.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">167.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ethanol Production mix</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" colspan="2"><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">54.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">80.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-32.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">48.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">80.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-40.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="29" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Energy per milled ton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>Kwh / ton</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-28.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">95</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-35.8</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Owned sugarcane accounted for 95.2% of total cane milled during the year 2010, thus decreasing
reliance on third party supply. The completion of Angelica&#146;s sugar factory drove Adecoagro&#146;s share
of sugar in production mix up from 19.8% in 2009 to 45.5% in 2010.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Sugar, Ethanol &#038; Energy &#151; Changes in Fair Value Breakdown</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Biological Asset</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="34%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="10" style="border-bottom: 1px solid #000000"><B>2010</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="10" style="border-bottom: 1px solid #000000"><B>2009</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>$</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>Hectares</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>$/hectare</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>$</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>Hectares</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>$/hectare</I></B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap><DIV style="margin-left:15px; text-indent:-15px">(&#043;) Sugarcane plantations at end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">104,847</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53,799</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,949</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">164,701</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49,470</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,329</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap><DIV style="margin-left:15px; text-indent:-15px">(-) Sugarcane plantations at begining of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(164,701</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49,470</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,329</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(48,167</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,616</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,477</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">(-) Planting investment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(34,700</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,998</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,339</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(40,196</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,670</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,275</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">(-) Exchange difference</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,241</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,003</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="23" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in Fair Value of Biological Assets (unrealized)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(96,795</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57,335</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="23" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Agricultural produce</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="34%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>$</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>Tons</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>$/ton</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>$</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>Tons</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B><I>$/ton</I></B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap><DIV style="margin-left:15px; text-indent:-15px">(&#043;) Harvested own sugarcane transferred to mill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">117,182</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,869</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46,928</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,076</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22.6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">(-) Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(106,390</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(43,200</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="23" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in Fair Value of Agricultural Produce</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,934</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,728</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="23" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Changes in Fair Value</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(86,003</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>61,064</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Changes in Fair Value of the Sugar, Ethanol and Energy business decreased $147.1&nbsp;million, from
$61.1&nbsp;million in 2009 to $(86.0) million in 2010. The main driver for this decrease was a fall in
the fair value of our sugarcane plantations (&#147;Biological Asset&#148;), from an average of $3,329 per
hectare to $1,949 per hectare, as a result of lower sugar future market price estimates used in the
sugarcane valuation model. This impact was partially offset by an increase in the profit generated
in the current production of sugarcane (&#147;Agricultural Produce&#148;), from $3.7&nbsp;million to $10.8
million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The fair value of sugarcane plantations is determined using a discounted cash flow (DCF)&nbsp;model. As
a result, the value measurement of the sugarcane plantations is affected by the inputs and
assumptions used in the DCF model, such as sugarcane price, yields, costs, productivity and
discount rate. Given the lack of
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">
</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAPHICS)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">available price data for sugarcane, the price of future harvested sugarcane is calculated through a
model based on estimates of sugar price derived from the Sugar #11 ICE- NY future contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During 2010, a change was introduced to the sugarcane valuation model. Projected revenues are now
calculated based on the average of daily prices for sugar future contracts during the six-month
period ended at year end rather than the single price for sugar future contracts at year end,
method used during 2009. The company and its auditors determined that the use of 6-month average
of daily prices of future contracts was a more appropriate estimate for price inputs in the
valuation model, as it would mitigate any additional variability that a single-day price may have
on the sugarcane valuation model. As a result of future prices variation during 2010, using the
six month moving average of sugar futures prices rather than the single price at year end, reduced
the value of the biological asset in $90.9&nbsp;million as of December&nbsp;31st, 2010 (unaudited), also
impacting the 2010 Changes in Fair Value by the same amount.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gains or losses resulting from unrealized changes in fair value of long term biological assets
(i.e. sugarcane, coffee and cattle) does not represent a cash inflow or outflow for the Company.
The Adjusted EBITDA performance measure neutralizes the effect of these unrealized gains and
losses.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Agricultural Produce &#151; Productive Indicators</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><I>metric</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(chg %)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="17" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harvested own sugarcane</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right"><I>thousand tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,869</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,076</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">86.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harvested area</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" nowrap align="right"><I>Hectares</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40,263</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,222</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">81.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Yield</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" nowrap align="right"><I>tons/hectare</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">96.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">TRS content</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" nowrap align="right"><I>kg/ton</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">135.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">125.08</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">8.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mechanized harvest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">79.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">21.5</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The table above shows productive indicators related to our owned sugarcane production
(&#147;Agricultural Produce&#148;) which is planted, harvested and then transferred to our mills for
processing. Sugarcane yields and sugar content in cane (TRS)&nbsp;increased 2.9% and 8.7% respectively
in 2010. Above average rains that fell during the second half of 2009 were detrimental to the
development of sugar content (TRS)&nbsp;in 2009, but enhanced sugarcane growth for the 2010 harvest. The
increase in sugar content (TRS)&nbsp;during 2010 is a result of lower than average rains during the 2010
harvest.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Sugar, Ethanol and Energy &#151; Results From Open Hedged Positions</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="12%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Volume</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Hedge price</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Gain/loss booked</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Country</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Product</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><B>Type of contract</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>(thousand tons)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>($ cts/lb)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>in 2010 ($ thousand)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="21" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right">Forward May</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right">Forward July</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right">Forward October</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">BRA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">Sugar</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right">OTC July</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,769</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right">OTC October</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(554</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right">Future May</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right">Future July</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(18</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="21" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>101.3</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>21.3</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(3,350</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="21" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As of December&nbsp;31st, 2010, open hedge positions for sugar stood at 101.3 thousand tons at an
average price $21.3 cents/lb. During 4Q10 we recorded a non-cash loss of $3.4&nbsp;million resulting
from the mark-to-
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">

</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAPHICS)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">market of all futures and OTC contracts at year end. The recognition of the loss caused by the
increase in sugar prices is reflected in our Statement of Income under the &#147;Other operating income,
net&#148; line item.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Indebtness
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Debt Breakdown</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>4Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>3Q10</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>% Change</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Short Term Debt</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>137,795</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>137,858</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>0.0</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Farming</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67,951</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59,497</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">14.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Sugar, Ethanol &#038; Energy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,843</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78,361</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-10.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Long Term Debt</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>251,677</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>265,361</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><B>-5.2</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Farming</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54,871</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63,717</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-13.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Sugar, Ethanol &#038; Energy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">196,806</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">201,644</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-2.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Debt</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>389,472</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>403,219</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><B>-3.4</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash &#038; Equivalents (1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70,269</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60,621</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">15.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net Debt</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>319,203</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>342,598</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><B>-6.8</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Does not include IPO proceeds of $423.0&nbsp;millions</TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adecoagro&#146;s gross indebtness at the end of 4Q10 was $389.5&nbsp;million, showing a 3.4% reduction versus
the previous quarter. The 14.2% increase in farming short term debt is mainly due to the additional
working capital required during the planting of summer crops. The 10.9% decrease in the Sugar,
Ethanol &#038; Energy short term debt reflects the increase cash collection from sugar, ethanol and
energy sales following the peak of the harvest season. The 15.9% growth in Cash and Cash
Equivalents versus the previous quarter reflects the collection of $10&nbsp;million related to the first
installment of the sale of La Macarena farm, Net debt position for 4Q10 stands at $319.2&nbsp;million,
6.8% below 3Q10.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:15px; text-indent:-15px"><IMG src="y90591by9059104.gif" alt="(PIE CHART)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><IMG src="y90591by9059105.gif" alt="(PIE CHART)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">

</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAPHICS)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Capital expenditures
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Capital Expenditures Breakdown</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>% Change</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Farming &#038; Land Transformation</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19,239</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>15,596</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>23.4</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Land Acquisitions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,846</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,602</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">240.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Land transformation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,762</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">881</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">440.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Rice Mill Construction</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,086</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,434</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">19.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Dairy Free Stall Unit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,544</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,678</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-82.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Sugar, Ethanol &#038; Energy</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>154,781</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>117,125</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>32.2</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Sugar and Ethanol mills</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">120,081</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78,229</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">53.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Sugarcane Planting</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,896</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-10.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>174,020</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>132,720</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>31.1</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Adecoagro&#146;s capital expenditures during 2010 totaled $174.0&nbsp;million, 31.1% higher than 2009. Over
88.9% of these expenditures were related to the expansion of our Sugar, Ethanol &#038; Energy business,
mainly the completion of the assembly and construction of the Angelica mill and the planting of
7,998 hectares of sugarcane plantations to supply our mills. Main investments made in our Farming &#038;
Land Transformation business were: (i)&nbsp;the purchase of a rice farm; (ii)&nbsp;the transformation of 6.5K
hectares of farmland; (iii)&nbsp;the ongoing construction of our fourth rice mill that will process rice
produced in the San Joaquin farm and rice purchased from third parties; and (iv)&nbsp;the completion of
the second and final phase of our free stall dairy.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Inventories
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>End of Period Stock</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Product</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3"><B><I>Metric</I></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>% Change</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="17" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Soybean</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,882</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,074</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">13</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Corn<SUP style="FONT-size: 85%; vertical-align: text-top"> (1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,599</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,927</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">87</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wheat <SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65,754</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,592</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">44</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sunflower</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">508</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,754</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-86</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cotton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">630</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-100</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Rice</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,863</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,671</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Coffee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">890</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">141</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">531</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sugar</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="right"><I>tons</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,211</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,635</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">326</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ethanol</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" colspan="2"><I>m3</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,943</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,060</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">-67</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes sorghum</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes barley</TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Inventories at year end for most of our farming products increased in 2010 compared to 2009 as a
result of the growth in production of most summer crops in the 2009/10 harvest year and the
excellent 2010/11 harvest of winter crops. Sugar inventories increased significantly year over
year as a result of the start of operations of the sugar factory in the Angelica mill during June
2010.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">

</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAPHICS)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Forward-looking Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This press release contains forward-looking statements that are based on our current expectations,
assumptions, estimates and projections about us and our industry. These forward-looking statements
can be identified by words or phrases such as &#147;anticipate,&#148; &#147;forecast&#148;, &#147;believe,&#148; &#147;continue,&#148;
&#147;estimate,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;is/are likely to,&#148; &#147;may,&#148; &#147;plan,&#148; &#147;should,&#148; &#147;would,&#148; or other
similar expressions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The forward-looking statements included in this press release relate to, among others: (i)&nbsp;our
business prospects and future results of operations; (ii)&nbsp;the implementation of our business
strategy, including our development of the Ivinhema project; (iii)&nbsp;our plans relating to
acquisitions, joint ventures, strategic alliances or divestitures; (iv)&nbsp;the implementation of our
financing strategy and capital expenditure plan; (v)&nbsp;the maintenance of our relationships with
customers; (vi)&nbsp;the competitive nature of the industries in which we operate; (vii)&nbsp;the cost and
availability of financing; (viii)&nbsp;future demand for the commodities we produce; (ix)&nbsp;international
prices for commodities; (x)&nbsp;the condition of our land holdings; (xi)&nbsp;the development of the
logistics and infrastructure for transportation of our productions in the countries where we
operate; (xii)&nbsp;the performance of the South American and world economies; (xiii)&nbsp;weather and other
natural phenomena; (xiv)&nbsp;the relative value of the Brazilian Real, the Argentine Peso, and the
Uruguayan Peso compared to other currencies; and (xv)&nbsp;developments in, or changes to, the laws,
regulations and governmental policies governing our business, including environmental laws and
regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">These forward-looking statements involve various risks and uncertainties. Although we believe that
our expectations expressed in these forward-looking statements are reasonable, our expectations may
turn out to be incorrect. Our actual results could be materially different from our expectations.
In light of the risks and uncertainties described above, the estimates and forward-looking
statements discussed in this press release might not occur, and our future results and our
performance may differ materially from those expressed in these forward-looking statements due to,
inclusive, but not limited to, the factors mentioned above. Because of these uncertainties, you
should not make any investment decision based on these estimates and forward-looking statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The forward-looking statements made in this press release related only to events or information as
of the date on which the statements are made in this press release. We undertake no obligation to
update any forward-looking statements to reflect events or circumstances after the date on which
the statements are made or to reflect the occurrence of unanticipated events.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">

</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAPHICS)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Appendix</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Property Portfolio

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Land Portfolio</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="24%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="14" style="border-bottom: 1px solid #000000"><B>Area in hectares</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Total</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Farm</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Region</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>Croppable</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>Cattle</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>Productive</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" colspan="3" style="border-bottom: 1px solid #000000"><B>Current use</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Las Horquetas</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Humid Pampas, Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,089</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,747</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,747</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">El Meridiano</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Humid Pampas, Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,302</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,933</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,933</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">San Carlos</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Humid Pampas, Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,239</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,976</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,976</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">La Alegr&#237;a</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Humid Pampas, Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,439</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,936</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,936</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Santa Regina</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Humid Pampas, Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,618</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,202</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,202</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Abolengo</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Humid Pampas, Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,476</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,863</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,863</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Dairy</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Carmen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Humid Pampas, Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,020</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,541</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,541</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains Dairy</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">San Joaqu&#237;n</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northeast Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">37,082</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,179</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">21,833</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">30,012</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Rice, Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">La Rosa</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northwest Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,087</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,483</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,329</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,812</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">San Agust&#237;n</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northeast Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,067</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,517</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,838</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,355</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Rice, Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">San Jos&#233;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northwest Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,630</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">435</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,071</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,506</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">It&#225; Caab&#243;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northeast Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">26,650</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,159</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,864</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">22,023</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Rice, Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Oscuro</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northeast Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">33,429</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,363</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">18,262</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">26,625</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Rice, Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Santa Luc&#237;a</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northwest Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">17,495</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,453</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,453</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">El Orden</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northwest Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,860</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,263</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,520</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,783</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">La Carolina</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northwest Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,297</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,634</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,663</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,297</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">La Guarida</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northwest Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15,451</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,765</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,105</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,870</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dinaluca</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northeast Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">14,749</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Rice</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Omb&#250;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northeast Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">18,320</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,402</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,842</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">14,244</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Cattle</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">La Garrucha</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northwest Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,607</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,060</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,060</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Los Guayacanes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Northwest Argentina</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,241</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,226</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,226</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">La Pecuaria</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Uruguay</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,177</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,260</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,260</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sap&#225;lio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mato Grosso do Sul, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,062</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,702</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,702</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Sugarcane</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Agua Branca</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mato Grosso do Sul, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,614</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,176</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,176</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Sugarcane</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nossa Senhora Aparecida</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mato Grosso do Sul, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">540</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">402</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">402</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Sugarcane</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Carmen (Agua Santa)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mato Grosso do Sul, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">146</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">120</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">120</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Sugarcane</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ouro Verde</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mato Grosso do Sul, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">683</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">506</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">506</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Sugarcane</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bela Manh&#225;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mato Grosso do Sul, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">381</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">284</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">284</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Sugarcane</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Don Fabr&#237;cio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mato Grosso do Sul, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,304</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,459</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,459</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Sugarcane</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Takuar&#234;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mato Grosso do Sul, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">490</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">259</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">259</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Sugarcane</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Rio de Janeiro</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Western Bahia, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,012</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,805</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,805</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Coffee</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mimoso</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Western Bahia, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">902</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">277</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">277</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Coffee</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Palmeira</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Western Bahia, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Coffee</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lagoa de Oeste</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Western Bahia, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,132</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">627</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">627</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Coffee</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Heloisa</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Western Bahia, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">800</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Coffee</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alto Alegre</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Western Bahia, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,082</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,723</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,723</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Cotton</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Conquista</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Western Bahia, Brazil</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,325</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,971</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,971</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="right">Grains &#038; Cotton</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="23" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>282,798</B></TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>128,208</B></TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>81,327</B></TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>209,535</B></TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="23" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">

</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAPHICS)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Industrial Portfolio</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="16%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Facility</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Description</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Province/Country</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Productive Information</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="7" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Angelica Agronenerg&#237;a
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sugar and Ethanol Mill
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Mato Grosso do Sul, Brazil
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.0 MM tons of Sugarcane crushing capacity</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Usina Monte Alegre
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sugar and Ethanol Mill
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minas Gerais, Brazil
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1.2 MM tons of Sugarcane crushing capacity</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">La Lacteo
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Milk Processing Facility
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Cordoba, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">250,000 liters per day processed</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Semillero It&#225; Caab&#243;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rice Seed Breader
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Corrientes, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rice genetic improvement program</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Molino Ala Mercedes
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rice Mill
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Corrientes, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Milling capacity of 5,000 tons of white rice per month</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Molino San Agustin
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rice Mill
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Corrientes Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Milling capacity of 3,500 tons of white rice per month</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Molino Ala Salvador
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rice Mill
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Entre Rios, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Milling capacity of 5,000 tons of white rice per month</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Franck
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rice Mill
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Santa Fe, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Under Construction</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Christophersen
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Grain Storage and Conditioning
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Santa Fe, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Storage capacity of 18,600 tons and drying capacity of 2,000 tons</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">San Carlos
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Grain Storage and Conditioning
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Buenos Aires, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Storage capacity for 3,600 tons</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">El Meridiano
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Grain Storage and Conditioning
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Buenos Aires, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Storage capacity for 1,500 tons</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Abolengo
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Grain Storage and Conditioning
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Santa Fe, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Storage capacity for 3,000 tons</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">La Rosa
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Grain Storage and Conditioning
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Santa Fe, Argentina
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Storage capacity for 2,000 tons</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Market Outlook
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059106.gif" alt="(LINE CHART)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Source: Thomson Reuthers
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Soybean: </B>Average price for the Dec-10 future contract on CBOT (Chicago Board of Trade) was U$S
12.44/bushel in 4Q10. This represents 20% increase compared to 3Q10 and 24% appreciation against
4Q09.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">According to the latest USDA World Agricultural Supply and Demand Estimates report released on
March&nbsp;10th, world&#146;s production will be 258.4&nbsp;million metric tons (MMT)&nbsp;in 2010/11, with a marginal
0.6% decrease compared against the prior year. At the end of 4Q10, estimated global production was
257.8 MMT, according to the USDA. The outlook for global soybean supply remains uncertain, as
production in
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">

</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAPHICS)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Argentina and Brazil is still not defined due to adverse climatic factors in both countries. There
has been a positive change in global production between December&nbsp;2010 and latest USDA March&#146;s
report due to an increase in the harvest in Brazil, which will reach a record 70 MMT in 2010/2011;
China&#146;s production was also revised upward (from 14.4 MMT to 15.2 MMT). On the other hand, there
were reductions in Argentina (from 52 MMT to 49.5 MMT) and in the US (from 91.9 MMT to 90.6 MMT).
From the demand side, latest USDA estimates suggest that China&#146;s soybean imports will be
approximately 57 MMT, Soybeans stock-to-use in the US was reported to be at historically low levels
of 4.2%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In 2011, Argentina will export around 11 MMT of soybeans compared to 12 MMT in 2010. Around 33% of
Argentina&#146;s soybean production could be used as biodiesel if government biodiesel requirements rise
to 10% (50% local market and 50% to export). For Argentina, Bolsa de Cereales estimated a soybean
harvest of 48.8 MMT on March&nbsp;10th.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Corn: </B>Dec-10 corn future contract on CBOT (Chicago Board of Trade) traded at an average price of
U$S 562/bushel in 4Q10, which represents 33% increase compared to 3Q10 and 45% appreciation
compared to 4Q09.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">March&nbsp;2011 USDA supply and demand report showed that global production is estimated to reach
approximately 813,8 MMT, while December&nbsp;2010 estimate was 820.7 MMT. This reduction is due to a
reduction of production in Argentina (from 25 MMT to 22 MMT, mainly due to bad weather conditions
during December) and in the US (from 318.5 to 316.2 MMT). Brazilian production was revised higher
between December&nbsp;2010 and March&nbsp;2011, from 51 MMT to 53 MMT, US corn supply and demand forecasts
are very tight as USDA lowered production and increased consumption due to a higher use of ethanol.
In order to prevent a further balance tightening (stocks-to-use is at 5% in March&nbsp;2011 while it was
6.2% in December&nbsp;2010), corn acreage in the US should increase by 3 MM acres, Mexico&#146;s agricultural
region of Sinaloa was hit this year by the coldest weather in at least two decades, affecting more
than 4 MMT of corn. As a result of the colder weather conditions, Mexico is expected to produce
23.3 MMT of corn in 2011, down from the previous forecast of 25 MMT.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Argentina is the second largest corn exporter and its <I>Bolsa de Cereales </I>estimates that the
production will reach 19.5 MMT in 2010/11 harvest while export surplus is estimated at 10-11 MMT.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Wheat: </B>Dec-10 future contract on CBOT had an average price of U$S 707/bushel in 4Q10. This means an
8% increase compared to 3Q10 and 35% appreciation compared to 4Q09.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Latest USDA report shows that global ending stocks will be 181.9 MMT. This represents a 5.2 MMT
variation against December&nbsp;2010 USDA&#146;s estimation namely as a result of higher than previously
estimated production in Argentina (from 13.5 MMT to 15 MMT) and Australia and a lower consumption
in the Euro zone. The Russian government is expected to debate the extension of the ban on grain
exports but it will not be eliminated until the end of the year. For this reason, global exports
have recently been revised lower, with a negative change of 3 MMT in the former Soviet Union
countries between December&nbsp;2010 and March&nbsp;2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For Argentina, Bolsa de Cereales reported that production is estimated to be 15 MMT, up 0.5 MMT as
compared to the previous estimates and 90% higher than the 7.9 MMT of 2009/2010 (hardly affected by
the drought), Argentina opens a new export quota of 1 MMT of low quality wheat. Total export
surplus is estimated at 6-7 MMT for this year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">

</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAPHICS)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Cotton: </B>Average price for the nearby future contract traded on ICE (ICE Futures U.S) was US&#162; 130/lb
in 4Q10. This represents 48% increase compared to 3Q10 and 87% compared to 4Q09.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">USDA&#146;s March&nbsp;2011 report shows a decrease of 1.1&nbsp;million 480-pound bales compared to USDA&#146;s
December&nbsp;2010 report. This is due to a downward revision of estimates of production in China (from
30 M bales to 29.5 M) and India (from 26 M bales to 25 M). Ending stocks in the US were kept
unchanged at a record low of 1.90 MM bales. Cotton supply is likely to remain tight because adverse
weather conditions throughout India, Australia, and Pakistan have damaged cotton crops, and prices
are expected to remain high due to strong demand from China and India, Argentina, Brazil and
Australia increased cotton area by 61% for the 2011 crops. High prices and margins are an incentive
for Northern Hemisphere plantings too and it is expected that US will expand the cotton planted
area in April/May. During 2010, cotton prices increased considerably following economic recovery
and supported by the export restriction in India, one of the world&#146;s largest exporters of cotton.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Rice: </B>South American market for high quality milled rice stood at U$S 560/ton FOB in Q410, while
Q310 average was at U$S 540/ton average, USDA&#146;s March report revised rice figures: global ending
stocks were higher in 4.5 MMT YOY. Rice prices lagged the rise in the grains complex, this is
generating (particularly in US) a potential switch of 20-30% of planting area from rice to the
other grains &#038; cotton, that means a possible increase in rice prices in the US for the 2011/2012
crop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">International prices are in a weak period, with possible upward effects in demand. According to
<I>Conmasur </I>(Confedraci&#243;n de Molinos Arroceros del Mercosur), production in Brazil is expected to be
approximately 13 MMT in 2010/2011 harvest, while Argentina expects its production to be
approximately 1.6 MMT, and Uruguay at 1.5 MMT. As a result, Mercosur&#146;s export surplus to third
markets out of the region will be 3-3.5 MMT according to <I>Conmasur </I>estimates, compared to 1.5 MMT in
2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Coffee: </B>Dec-10 future contract traded on ICE at an average price of US&#162; 205/lb in 4Q10. This means
an 18% increase compared to 3Q10 and 47% compared to 4Q09.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Coffee on ICE market reached last month the highest price level since 1997 on tight inventories and
low stocks driven by three consecutive below-par crops in Colombia (although it is expected to be
better next season). According to CONAB, the crop in Brazil will be 47.2 M bags in 2010/2011,
slightly lower than 2009/2010 record high of
48.1 M 60 kg bags. Export activity in Brazil remains firm but internal market continues with big
discounts relative to international markets. Weather conditions around the world have affected
coffee&#146;s quality. That has been one of the main reasons of the rally in prices during the last
months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Sugar &#038; Ethanol: </B>According to the latest data published by UNICA, cane crushing in the Centre-South
region of Brazil during the 2010/2011 crop totaled 556.2 MM tons, with an average of 141.2 kgs
TRS/ton of cane, resulting in 33.5 MM tons of sugar and 25.3 MM m<SUP style="FONT-size: 85%; vertical-align: text-top">3</SUP> of ethanol (7.4 MM
m<SUP style="FONT-size: 85%; vertical-align: text-top">3</SUP> of anhydrous and 17.9 MM m<SUP style="FONT-size: 85%; vertical-align: text-top">3</SUP> of hydrous). These final numbers are much
lower than the production forecasted by UNICA in the beginning of 2010 due to the impact of La
Ni&#241;a&#146;s drought on cane productivity/growth. Cane crushing was 7% lower than expected, while sugar
production was down 2% and ethanol down 8%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The 44.7% TRS diversion to the production of sugar ensued because of its higher remuneration
compared with ethanol throughout the whole crop. The average price for the Dec-10 sugar contract on
ICE rose to 29.01 cts US$/lb in 4Q10 caused by the reduction in expected production, while the
average gross ex-mill price, published by ESALQ, was 1,238,43 BRL/m3 and 1,215,58 for anhydrous and
hydrous ethanol
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">

</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(GRAPHICS)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">respectively. Compared to 3Q2010, sugar prices increased 44%, anhydrous and hydrous &#043;23%, in
response to strong sugar exports and ethanol domestic demand as well as world climate issues.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">India, the world&#146;s second largest sugar producer, started its harvest during 4Q10. Many
consultancies such as Kingsman, Czarnikow and ISMA agree today that India&#146;s final sugar production
figures for 10/11 will reach a maximum of 25 MM tons which would allow India to export up to 2 mm
tons sugar (500 K tons of OGL licenses were approved recently after much internal debate about
impacts on food inflation and crop size).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Reconciliation of Non-IFRS measures (Adjusted EBITDA &#038;
Adjusted EBIT) to Profit/(loss) of the period for 2010 and 2009</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We define Adjusted EBITDA for each of our operating segments as the segment&#146;s share of consolidated
profit from operations before financing and taxation for the year or period, as applicable, before
depreciation and amortization and unrealized changes in fair value of long-term biological assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We define Adjusted EBIT for each of our operating segments as the segment&#146;s share of consolidated
profit from operations before financing and taxation for the year or period, as applicable, before
unrealized changes in fair value of long-term biological assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We believe that Adjusted EBITDA and Adjusted EBIT are for the Company and each operating segment,
respectively important measures of operating performance because they allow investors and others to
evaluate and compare our consolidated operating results and to evaluate and compare the operating
performance of our segments, respectively, including our return on capital and operating
efficiencies, from period to period by removing the impact of our capital structure (interest
expense from our outstanding debt), asset base (depreciation and amortization), tax consequences
(income taxes), unrealized changes in fair value of long term biological assets (a significant
non-cash gain or loss to our consolidated statements of income following IAS 41 accounting),
foreign exchange gains or losses and other financial expenses. Other companies may calculate
Adjusted EBITDA and Adjusted EBIT differently, and therefore Adjusted EBITDA and Adjusted EBIT may
not be comparable to similarly titled measures used by other companies. Adjusted EBITDA and
Adjusted EBIT are not a measures of financial performance under IFRS, and should not be considered
in isolation or as an alternative to consolidated net profit (loss), cash flows from operating
activities, profit from operations before financing and taxation and other measures determined in
accordance with IFRS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y90591by9059103.gif" alt="(GRAPHICS)">
</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(ADECOAGRO LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Adjusted EBITDA 2010</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
    <TD nowrap align="left"><I>$ in thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Crops</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Rice</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Dairy</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Coffee</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Cattle</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Farming</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Sugar</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Land Tranformation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Corporate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="41" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Manufacturing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">344</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59,280</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,709</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,718</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">66,051</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">228,478</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">294,529</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(52,017</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,546</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(54,563</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(164,638</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(219,201</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Gross Profit manufacturing activities</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">344</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,263</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">163</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,718</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11,488</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>63,840</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>75,328</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Agricultural activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">107,818</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,305</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,297</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,863</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,407</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">131,690</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">131,738</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(107,818</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,305</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(14,297</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(4,863</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,407</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(131,690</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(48</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(131,738</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,879</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,360</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,129</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,630</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">737</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55,475</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(86,003</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(30,528</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in NRV after harvest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">517</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,999</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,999</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Profit agricultural activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46,361</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,360</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,129</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,113</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">737</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63,474</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(86,003</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(22,529</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Margin Before Operating Expenses</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46,705</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,623</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,129</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,950</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,455</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>74,962</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,163</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>52,799</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">G&#038;A expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7,087</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,773</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,910</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(983</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(350</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(15,103</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(19,080</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(22,379</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(56,562</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,522</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(8,154</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(333</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(655</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(175</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10,839</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(41,689</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(52,528</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other operating income, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(6,194</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">345</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,165</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7,944</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,305</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,837</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,224</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Joint ventures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(50</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(50</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(50</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Profit from Operations Before
Financing and Taxation</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31,902</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,041</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,836</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,753</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>41,026</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(77,627</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20,837</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,353</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(38,117</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value of long term
biological assets (urealized) (-1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,610</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,450</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,124</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">96,795</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">95,671</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31,902</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,041</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,226</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,303</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,036</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>39,902</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19,168</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20,837</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,353</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>57,554</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation and amortization (-1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,711</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,080</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">423</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">449</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">333</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,996</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,567</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37,563</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBITDA</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,613</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,121</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,649</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,854</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,369</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>44,898</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>51,735</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20,837</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,353</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>95,116</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value of long term
biological assets (urealized)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(95,671</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation and amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(37,563</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other financial expenses, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,767</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign Exchange, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,324</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest Expense, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(33,028</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax (expense)/Benefit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,263</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Profit /(Loss) for the period</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(44,791</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Adjusted EBITDA 2009</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
    <TD nowrap align="left"><I>$ in thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Crops</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Rice</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Dairy</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Coffee</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Cattle</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Farming</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Sugar</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Land Tranformation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Corporate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="41" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Manufacturing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,667</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67,317</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">752</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,984</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">172</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">85,892</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">97,494</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">183,386</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,447</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(56,576</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(613</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7,120</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(69,756</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(110,327</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(180,083</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Profit manufacturing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,220</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,741</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">139</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">864</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">172</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,136</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(12,833</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,303</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Agricultural activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82,362</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,033</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,142</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,281</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,306</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">130,124</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">130,217</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(82,362</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,033</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(11,142</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(6,281</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(28,306</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(130,124</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(93</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(130,217</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,563</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,374</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(16,207</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,704</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,604</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61,064</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">71,668</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in NRV after harvest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,362</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">191</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,234</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,787</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,787</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Profit agricultural activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,925</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,361</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,374</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(14,973</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,704</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,391</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61,064</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84,455</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Margin Before Operating Expenses</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,145</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,102</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,513</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(14,109</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,876</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>39,527</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>48,231</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>87,758</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">G&#038;A expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(6,280</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,883</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,221</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,126</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,909</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(16,419</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(13,922</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(22,052</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(52,393</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,587</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7,485</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(777</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,353</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,045</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(12,247</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(18,922</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(31,169</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other operating income, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,776</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(942</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(108</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">806</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">377</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,909</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10,467</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,839</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(210</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,071</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Joint ventures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(294</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(294</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(294</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Profit from Operations Before
Financing and Taxation</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,054</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,792</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">113</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(16,782</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,299</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>15,476</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,920</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>18,839</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,262</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,973</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value of long term
biological assets (urealized) (-1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(32</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,662</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(127</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,503</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(57,335</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(44,832</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,054</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,792</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(4,120</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,172</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>27,979</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(52,415</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>18,839</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,262</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(27,859</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation and amortization (-1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,066</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,452</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">403</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">570</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">353</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,844</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,512</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,356</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBITDA</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,120</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,244</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,550</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>32,823</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(26,903</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>18,839</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,262</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,497</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value of long term
biological assets (urealized)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44,832</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation and amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(30,356</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other financial expenses, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,816</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign Exchange, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,903</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest Expense, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(27,750</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax (expense)/Benefit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,415</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Profit /(Loss) for the period</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(275</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="y90591by9059103.gif" alt="(LOGO)">
</DIV>


<P align="right" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(ADECOAGRO LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Reconciliation of Non-IFRS measures (Adjusted EBITDA &#038; Adjusted EBIT) to
Profit/(loss) of the period for 4Q10 and 4Q09</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Adjusted EBITDA 4Q10</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
    <TD nowrap align="left"><I>USD in thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Crops</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Rice</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Dairy</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Coffee</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Cattle</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Farming</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Sugar</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Land Tranformation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Corporate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="41" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Manufacturing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">133</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,689</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">103,923</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">120,612</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(13,234</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(13,234</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(68,798</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(82,032</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Gross Profit manufacturing activities</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">133</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,352</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,455</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>35,125</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>38,580</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Agricultural activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,021</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">563</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,254</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,904</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,028</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,770</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,769</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(18,021</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(563</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(4,254</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,904</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,028</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(26,770</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(26,769</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,489</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,789</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,334</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,117</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">185</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,680</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,759</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46,439</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in NRV</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,195</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(507</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">688</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">688</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Profit agricultural activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,684</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,789</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,334</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,624</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">185</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,759</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47,127</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Margin Before Operating Expenses</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,817</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,141</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,334</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,624</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,155</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>26,823</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>58,884</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>85,707</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">G&#038;A expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,543</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,202</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(823</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(484</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,032</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(4,049</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,908</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(14,989</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(276</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,165</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(88</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(96</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(12</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,637</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(17,055</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(19,692</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other operating income, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,868</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">193</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,595</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(6</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7,276</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,663</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,837</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(796</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,102</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Joint ventures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">170</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Profit from Operations Before
Financing and Taxation</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,130</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,967</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,593</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(4,799</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,157</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>12,048</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>35,118</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20,837</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(6,704</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>61,299</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value of long term
biological assets (urealized) (-1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(636</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,566</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">379</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,309</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(20,325</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(19,016</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,130</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,967</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">957</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,233</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,536</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13,357</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>14,793</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20,837</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(6,704</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>42,283</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation and amortization(-1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">638</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">575</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">149</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">289</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,677</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,185</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,862</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBITDA</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,768</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,542</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,106</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,944</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,562</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>15,034</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>24,978</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20,837</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(6,704</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>54,144</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value of long term
biological assets (urealized)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,016</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation and amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(11,862</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other financial expenses, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,835</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign Exchange, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,553</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest Expense, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(11,846</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax (expense)/Benefit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(13,084</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Profit /(Loss) for the period</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>44,756</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Adjusted EBITDA 4Q09</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
    <TD nowrap align="left"><I>$ in thousands</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Crops</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Rice</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Dairy</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Coffee</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Cattle</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Farming</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Sugar</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Land Tranformation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Corporate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Total</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="41" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Manufacturing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,774</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,942</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,209</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">172</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,097</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,985</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58,082</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(478</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(17,523</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,983</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(20,985</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(52,691</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(73,676</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Profit manufacturing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,296</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,581</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">226</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">172</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(1,888</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(13,706</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(15,594</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Agricultural activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">913</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,722</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,465</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,289</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,389</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,390</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(21,000</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(913</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,722</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,465</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(18,289</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(45,389</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(45,390</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,880</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,772</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,738</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,426</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,926</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31,018</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,944</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in NRV after harvest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,691</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">210</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">503</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,404</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,404</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Profit agricultural activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,571</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,982</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,235</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,426</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,330</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31,018</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50,348</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Margin Before Operating Expenses</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,867</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,401</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,585</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,009</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,598</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>17,442</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>17,312</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>34,754</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">G&#038;A expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,574</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(722</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(401</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(276</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(640</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,613</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,944</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,056</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10,613</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(220</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(353</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(176</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(285</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(484</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,518</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(9,048</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10,566</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other operating income, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(887</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(123</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(327</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,263</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">143</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,839</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(86</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,633</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Joint ventures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Profit from Operations Before
Financing and Taxation</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,157</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,439</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">897</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,897</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,464</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11,060</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,463</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>18,839</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(5,142</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>31,220</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value of long term
biological assets (urealized) (-1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(141</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,462</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,391</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(21,149</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(17,758</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBIT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,157</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,439</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">756</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(435</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,534</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>14,451</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(14,686</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>18,839</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(5,142</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13,462</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation and amortization (-1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">998</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">227</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(81</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">90</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,327</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,583</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,910</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Adjusted EBITDA</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,155</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,666</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">849</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(516</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,624</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>15,778</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(3,103</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>18,839</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(5,142</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>26,372</B></TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in fair value of long term
biological assets (urealized)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,758</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation and amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(12,910</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other financial expenses, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,906</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign Exchange, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,238</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest Expense, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(11,183</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax (expense)/Benefit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,816</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Profit /(Loss) for the period</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>17,553</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="19" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="y90591by9059103.gif" alt="(LOGO)">
</DIV>


<P align="right" style="font-size: 10pt"><!-- Folio -->26<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(ADECOAGRO LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Financial Information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Statement of Income

</DIV>
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="38%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B><I>$ thousands</I></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% Change</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4 2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Q4 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% Change</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales of manufactured products and services rendered</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">294,529</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">183,386</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">60.6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">120,612</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58,082</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">107.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of manufactured products sold and services rendered</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(219,201</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(180,083</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">21.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(82,032</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(73,676</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">11.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Gross Profit from Manufacturing Activities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>75,328</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,303</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>2180.6</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>38,580</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(15,594</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales of agricultural produce and biological assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">131,738</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">130,217</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,769</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,390</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-41.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of agricultural produce sold and direct agricultural selling
expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(131,738</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(130,217</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(26,769</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(45,390</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-41.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Initial recognition and changes in fair value of biological assets and
agricultural produce</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(30,528</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">71,668</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46,439</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,944</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in net realizable value of agricultural produce after
harvest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,999</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,787</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-37.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">688</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,404</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-84.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Gross (Loss) / Profit from Agricultural Activities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,529</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>84,455</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>47,127</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>50,348</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right"><B>-6.4</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Margin on Manufacturing and Agricultural Activities Before
Operating Expenses</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>52,799</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>87,758</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right"><B>-39.8</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>85,707</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>34,754</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>146.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">General and administrative expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(56,562</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(52,393</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(14,989</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10,613</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">41.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(52,528</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(31,169</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">68.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(19,692</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10,566</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">86.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other operating income, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,224</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">39.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,102</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,633</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-42.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Excess of fair value of net assets acquired over cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share of loss of joint ventures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(50</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(294</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-83.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1316.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>(Loss) / Profit from Operations Before Financing and
Taxation</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(38,117</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,973</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>61,298</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>31,220</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>96.3</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Finance income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,559</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,553</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">43.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,195</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,551</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">58.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Finance costs</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(39,496</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(34,216</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">15.4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10,653</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(12,402</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-14.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financial results, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,937</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(22,663</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(3,458</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(7,851</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-56.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Loss Before Income Tax</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(61,054</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(5,690</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>973.0</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>57,840</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>23,369</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>147.5</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax benefit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,263</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,415</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">200.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(13,084</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(5,816</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">125.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Loss for the Year</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(44,791</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(275</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>16187.6</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>44,756</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>17,553</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>155.0</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="25" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Statement of Cash Flow
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>$ thousands</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% Change</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>(Loss)/ Profit for the year</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(44,791</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(275</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">16187.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Adjustments for</I>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax benefit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(16,263</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,415</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">200.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37,217</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,059</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">23.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">297</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">16.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="11" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gain from the disposal of other property items</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(21,684</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(337</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6334.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Employee share/unit options granted</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,780</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,880</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-38.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Loss/ (gain)&nbsp;from derivative financial instruments and forwards</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,189</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,486</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest expense, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,028</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,750</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">19.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Initial recognition and changes in fair value of non harvested biological assets (unrealized)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72,374</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(55,841</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in net realizable value of agricultural produce after harvest (unrealized)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,527</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(127</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1102.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Provision and allowances</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,013</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">24.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share of loss from joint venture</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">294</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-83.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign exchange (gains)/ losses, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7,324</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10,903</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-32.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gain from the sale of farmland businesses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(18,839</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Excess of fair value of net assets acquired over cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="y90591by9059103.gif" alt="(LOGO)">
</DIV>



<P align="right" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(ADECOAGRO LOGO)">
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>$ thousands</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% Change</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Changes in operating assets and liabilities:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increase in trade and other receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,584</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(30,388</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Decrease/ (increase)&nbsp;in inventories</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,259</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,442</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-34.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increase in biological assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,171</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,389</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">(Increase)/ decrease in other assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Decrease/ (increase)&nbsp;in derivative financial instruments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3,554</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,162</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Decrease in other financial assets at fair value through profit or loss</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increase/ (decrease)&nbsp;in trade and other payables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(4,221</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,508</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increase in payroll and social security liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,470</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,327</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">26.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Decrease in provisions for other liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">319</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(165</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net cash from operating activities before interest and taxes paid</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>68,033</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(6,688</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest paid</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(33,283</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(25,797</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">29.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax paid</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7,813</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(13,322</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-41.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net cash used in operating activities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>26,937</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>45,807</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right"><B>-41.2</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Cash flows from investing activities:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Acquisition of subsidiaries, net of cash acquired</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7,872</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Purchases of property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(87,679</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(97,817</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-10.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Purchases of intangible assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(33</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(315</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-89.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increase of Non Current Biological Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(35,060</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(40,492</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-13.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest received</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,341</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">472</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">184.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Proceeds from sale of property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,103</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,341</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">64.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Proceeds from disposal of subsidiaries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,475</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,425</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-66.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Acquisition of non controlling interest in subsidiaries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net cash used in investing activities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(111,725</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(114,386</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right"><B>-2.3</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Cash flows from financing activities:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Capital contributions from members</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,101</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Proceeds from long-term borrowings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67,379</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">80,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-15.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net increase in short-term borrowings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,449</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,946</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">79.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net cash generated from financing activities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>79,828</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>156,047</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right"><B>-48.8</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net (decrease)/ increase in cash and cash equivalents</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(4,960</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(4,146</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>19.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents at beginning of year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74,806</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93,360</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-19.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Effect of exchange rate changes on cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">423</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(14,408</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Cash and cash equivalents at end of year</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>70,269</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>74,806</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right"><B>-6.1</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Statement of Financial Position
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>$ thousands</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% Change</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ASSETS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non-Current Assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property, plant and equipment, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">751,992</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">682,878</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">10.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investment property</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,417</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,246</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Intangible assets, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,653</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,859</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">31.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Biological assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">104,216</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">170,347</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-38.8</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="y90591by9059103.gif" alt="(LOGO)">
</DIV>



<P align="right" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y90591by9059102.gif" alt="(ADECOAGRO LOGO)">
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>$ thousands</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% Change</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investments in joint ventures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,271</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,506</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-3.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred income tax assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67,463</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,113</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">49.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade and other receivables, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,752</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,065</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">39.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-23.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Non-Current Assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,010,790</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>970,048</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>4.2</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Current Assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Biological assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82,541</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60,107</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">37.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57,170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57,902</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-1.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade and other receivables, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">119,205</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106,212</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">12.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Derivative financial instruments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">876</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">99</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">784.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70,269</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74,806</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-6.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Current Assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>330,061</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>299,126</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>10.3</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Spin-off assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL ASSETS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,340,851</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,269,174</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>5.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>MEMBERS EQUITY</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Capital and reserves attributable to equity holders of the parent</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Members&#146; units</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">120,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">120,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share premium</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">563,343</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">563,343</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cumulative translation adjustment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,273</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,516</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">348.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Equity-settled compensation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,659</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,914</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">14.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Retained earnings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">257</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44,161</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-99.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Equity attributable to equity holders of the parent</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>708,532</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>741,934</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right"><B>-4.5</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Non controlling interest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,570</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,222</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-4.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL MEMBERS EQUITY</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>723,102</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>757,156</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right"><B>-4.5</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>LIABILITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non-Current Liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade and other payables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,785</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,822</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">72.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Borrowings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">250,672</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">203,134</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">23.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Derivative financial instruments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">280</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">100.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred income tax liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">111,495</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">107,045</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Payroll and social liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,178</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,106</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Provisions for other liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,606</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,326</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">38.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Non-Current Liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>379,736</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>321,713</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>18.0</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Current Liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade and other payables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,236</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62,098</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">10.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current income tax liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">978</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">222</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">340.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Payroll and social liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,478</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,079</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">53.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Borrowings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">138,800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">103,647</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">33.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Derivative financial instruments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,920</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,607</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-29.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Provisions for other liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,601</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,652</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">211.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Current Liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>238,013</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>190,305</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>25.1</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL LIABILITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>617,749</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>512,018</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>20.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL MEMBERS EQUITY AND LIABILITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,340,851</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,269,174</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>5.6</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="y90591by9059103.gif" alt="(LOGO)">
</DIV>



<P align="right" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>y90591by9059101.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 y90591by9059101.gif
M1TE&.#EAT`+Z`^8``/O8HU)M5=7FU=[KWKK4N?KIS.OU[)NZFS!)$K/.LVN)
M+7ND@X^I4Y*TE%1M*</;Q7*>>O;[]H:LBLO?S/^+`B8T#DQI&J/#H_VU6N+O
MXAPG#76-1OC(?Z;&JBE2,UV.::S'JV&-;*VUJ&R:=6%Y,?/W\V.2;7:B?8R3
MAZ[+K4%6%J+#G@T-"?_TXFF6<;'/7D=7)X6A-HJNCJBRDBPM*,+7PM/FS_ZF
M.8ZRDCIA0YJHF!I%)?Z:(=K<U:_'M9Z^G__[\^?SY];8SH.CA9JEB+K'I%QX
M&\_CSWJ">,K?QX&JA\C)P)RTG662<3Q>%I>VEG1V:]WFW(:EBI6RF(ZRCFR,
M;Y"LDHVCB^WPY^_W[\/3RN'FTST_-1`X'%A^7GV=1^3BT'J&8-#5O,[5S+[1
MOT-@)*O#IZ"Q@**AG=+1S1H?#^#JX\?;Q]?CUUI>&+Z^MX"56?O_^UA=/_O[
M^VZ:>=?KU_?[^]?KV___^N?SZ_O__YJZEL_?SY:ZEUV,:O___R'Y!```````
M+`````#0`OH#``?_@'^"@X2%AH>(B8J+C(V.CY"1DI)O1"B7F)E$EI=7*&]F
M;T4^1:)%169FIV8SFT0SEY:O,Z<SMK=GIY9%8KV]!+Z^O+"O>S,KIZ=G.F=6
MKD3.L3/,L%?/MIZ9*&@B1;`HV9BO9RBWYKQ)1=KEMJYG,^\KJ:BK]?#PEJVM
M9YOPWIABBA`0:.N=.57T:EDC\HZ=&6GK(NJP560%K8%B;&0A%"$@JV?,^+FZ
MLE!6$2(E^8'CA.(52DO6,,7L!*[EMV=$=(#+1@V?N58Z9LV:(6*&F3-/IC1#
MN$J5TY/62FXB2>24Q8(4O9VYBLR,O&1@R=0BHJKH3X.M7,VP42!)+[>T_R;:
M"DJ5DR=W.DAZFA%05J=^YIC0*AH4)TZ#(Y]I"T>3*BVPO,1,FDRYLN7+F#,G
M*H$$!@(6:D"K&4U#!0(-%5++@4(BC.LP&S;`AA.;A(,R"%*KT#`:@0,2L16H
M<&#$@A'B%A2X00UCPY<8T*/'8$`=NA$C;BQHOZX@A@4GX%6`#Z]!`PP2"-28
MKN`9@0HW*BJ4+S]:C9S8;E+KKX`@]^XRVCE!@@4..,#`"S'(5Y\:,%A01ADJ
MB#<>"20HH$"%7U3H16Q&`.B$?)Z]9UI_U^567P!P,$""$PX0^!MQ7WRQ@0(Q
M;I";>_$Q:$%Z*I`088ZB@2::&A48YX"%,5)'W?]O(BQAP!]Q@#&#BM^)9]J5
M_*76W@8C]@?>?OPAX.-^YKD!@WSSH>9;A+GQUV5J\TGH1(0PP/"@"K@U"&&!
M#Y;AP'@34AC;!A12Z,6-J2&J7X4*6#"@$]>UV&*$+!:JP*"T?0''I@SD!IQM
MOGWG!(``7AG#"R]0ERH#%_X681EGD@EG!7B.J!\"FL(AAWQAAK>GGW)X((=G
M8+IY91ES]M=F;FD66RP)N=)&Z`::56OMM=AFV\@<2W!!I!K]5<#%F:>I@1IK
M7I"0KKJQN;:!%P7"T*BRB9HF!X1N_#8@"<4YJL)HJ`'WG'31,>"=$]I]=^2\
MXKGGI8GEC@9?E^XIN*#_&C2$`5P9^J%V*PS]LDBJ`JFFMZ#'RDKHY[H4*N#`
MC.HVZL1IYOWHAK)NN&$$%Q5@_+*/(CMZW*67$@JJFV).:N;-_?W8LY#U(6"$
MRY<FN2H#79+``"]8E(#%%F+`00*Y8:*<6H;*(O`EO?S95EYJ+AHM![-J.@!#
M?$C3;5Z(*B1<!H5]_OC@;;[=%B"@OPU*Z+J*TMLFHQ<>!RG"R&JWYXS2QA;M
MIL`-R@`<7ZC(HH,6O(=JJJMF*!N%;\I:GGO(PG`S;QH8"`<7'O,WZJNW#5OG
M<%E6X(9MMPK(.IGFSE=LLY=NJCBUVD8O_?340U(""FJ,&S&1Y7*A[O<OUV;;
M_VT15N!`FV#>C9L#IOUM(1P*3-TS;^`*+*.%\5L8@Q'CB1K_S#-36]/2LYS1
MR(%]\&E:V2Y&)."XK&/[*5"+*.>@#:3*"`SD3<K$4P8C%$I0AOH4^^B#@`>5
MD$T(<(-R*G"?#;`//!*\C1&^<"&8*>!&_3&3F^84'PUPX4VA"8WY+F2<&#U'
M20=J7(8<]0[)_&$+H@C#F<RU'ZWU:DY@RF$/45.@OK'/17;+$@GJA;/$48=+
M_?E."?UTMZ8-QV[#L=-U1"4J?<7,-C;*4MJJB+_K',<XI1.5GQ*W`6GEBCJ;
MDA%MG$>;%CEH3J>BCA$S!"$&2)%FRD/-VUZ'I_:D"?\!EJ0!FFB%N`?=ZS>R
M.Y-X*!0K_M`H..?C#9K,E;RW):^!)*!-YW(9ANKY\I?`E!X>EA``G@513?&Y
MFS+_5B$*>="1\0E7^NKD&=G]R`&;@E]QYE.?(5ZG0GZ<X'9$)4`!CL@T&C"-
MSV"%OD19C('G&1"O(F@;_H''0<,9(P.I:"SQ.*I0^KJ0",M`/[XAX&Y<&M'P
M0'7/VTP06B^8T:7&&"8Q`<Y*S`)7--,#&A5,36@T.N+5&*`!:?*'3R1`ULO(
ML@2O8>$-(M!5;LKP`J:-9X]ZA%,)'>0G`(WO13>[E7\T)Z/8M(=-*J@3^^+S
M1@C!RDZT2A@,*Q2`B1J*;&'_`I,=79:<*E%.9`)27(RRR2FBQD9LI8(AJI1T
M/VAR;'FSXF;%`.8Q+LJA63@"#ZSL5@8YS"U<)23!W/03TAI=J&FX.]G;>-4C
M.*3K91H#3B^#2=G*6I8R8B!!?7A&*[QYS`T2%:@S2P>G-*D)1P<E'PL9R:H"
MLJ^;+9N:A;+S'7#>,&7*FIEXYL<>XN5NGO2YF`_']R%>,4N"DBL=-^D37(?E
M%H9;-8+1;/.W])04M7AS&`THM%0.?D=A,4(5T;)[4#DPR$YLLECPZ*>&XLC6
MB$BDSAA_RQ]8K:@XY\03"=(@!BP(H@2G>,%M$!9-%:1(`:TL#YX([*C$]<@V
MGPI3_U(%I3C:I"VU[!R1W?KS('D)9P>0,DZK(%PAHP+6I+D1<?R*@[#2??58
M10M=BA)Y!@O-:%HT4%MX2`:=&"F`51/%#19S9UI-CB9'="VMWCCYHZ3F``8.
MV)5\2F,:./+'`K'!3=I>A&0&TJI`<AB?F&MSV3*;^<R'P`+V6,`LX3D`30BX
MD&CC9SE,FE;".%L/`KR0.:89>3058A\""-0F44W-"`-\&`#5*8?\H(G(B^W9
M/NN&MUMQM3@`FI^Y:`"#DHZPHFGKD;X"FE+NWH:3B3[M<&R45SHFAT:GVU^E
M#\H%%M0.0L!K+IS,Q:^%%98!9TA5#+Z0U?T`2`-^FE/I$O_='V"3`PPE^,/7
MP'`&]$`96E_PX*,'/2#VW8:[A7J0"V]V'BGO0#\&8AI@?X2C\\7';A:`SKRD
M)E`';,@!`0BW'DVJN^WXL<4MKMQW$Y>K0\)/SH,B4NF,T&.)SLBAHR)=>CN6
M2=KA1I/N!.XGKS0SIQ)+/^<DEC2;90$9"?:=)^L/E!UJ[UU.%LTPCWEE>X""
MY;R-.+D9G@0M-#[2SC*%B'(N`N2P(Q`MTCEMG&68"]0Q@/D380'$K:*;EJ_2
MEK99D@:-;S;``&*G4-WUFN`]_Y6\^@(H/Q13%H#`^,Q!OD@^H:Y8!+4\*@"I
MK4>#.MT+'IBET8#F=Q&R>3?EPP7_D-*P1JI2DF9QV"9<$XGC*MB!T,\8IA<D
M(1=`$`06EE`42^*G9SO5CJ#=ES@[`B>I=66/&4=D`?6UQV$C6I_!NF,<0OTF
M7R^S8P!.G$4=)^PZ>J40H.X)G&PFJ=JF=Z&YQLYO$?4M/#PLWYUI1Z3\E!1<
MZ*NK+*_K1@A1LTT)5+FBFF6@S[GP^^P=#:T&62<3EL&%#I"Y_.=//3P`00QA
M@/.`WBC\.>FU33D"`TH236TT=).B<IDS(_$15')`-<)Q,E?4,!>&6_=D)IZ5
M)D023X/2*HFS([PQ(T&%/H,V'NQ&34<"84LE>?TA>7Y"(,=1(*4F0>B!;+BU
M'HER5!#2_V*^82%'HG<O0%'\023E00,.X`;^MVO\Y%.00R/3$5\PP$^`A1LY
M4@'),H$"2!TWH@((0B!<=P9BL`1+L`98@`5@X`U^A6M^,D8'Q24_HR_Q=!HL
M!(,IY0:T40;Y,H$#5`&XIC\Q(&?C<QZ#)&;G<R..EBCN$2#?!7Q54BO1%V.Y
M0BA@Q$I%J#LX(UHNU#309T[H5&3FXAZXTS,5,%$'I4.O<UJPHTRRDT)%.(%9
MHCS[P5EZE%0(8$SU\T$;9AX*\'[TMXN\B"U8,`/#XAO]0B&ETR7H1"NYP04'
M$@,;E5_XY![V-BB6\F`01BBT4R\HA(<C<E.5=G4EU1R%I#DQ`/\S#C2)&N`<
M+N,CB/)\/\(BFM-UH4-#6V1L`/(BHL<B,90;@QAJ()=;$4(@^@6#)*-W":(E
MJ,$%"S4Q-DA7V>%,1.,<;*4D\R."H29+>"@FBA<F7_`"_?)4PP,'9^"%8)`!
M6R`$8O`&9Y!-7<0E[S<^PO$WC;:!)'`SOP$@'G1A>5-"@Y8_%B)=N#=@+_)3
MX5(^&=<W">-B"4,I/*0V?J(I%<9ROS$L*J``/#-ZK-1ZKW=WIK&4#F-:G;@?
MZJ<`8D,A8H,[_?$Z3>,9'G`WNY25@'5U]7&-MQ(F=<(S?V,T7<0;*N!"<-"+
M?OF7EU$"8"!@@%0ZQ!$>&Y0S4;8!,0#_A[JA+%"V.\H2`.(3/T$9/O'C.&MR
MD6D#0&_30PJB`2#4.0P@C=)((?!A(!%V89U3C._1-H7U1QV4+S]"(*0#0Z(V
M2/&Q`1:0)5CB)LAHE$V34M(U(S[(`(FR`480,-?V)W+'6]K!+QY$(S]&'1;2
M=0Y`0FTF=";#?7I$`F>@)!R3&ZAR/KI!-"OF02#)#VLP"%O0`R8)!_KB/E#F
M*0^2(N97B,:2=,%S(]Y1''+6)T8(.R_2'#O2'^PSEU1X3\`'<&ZDE25T5O+Y
M.S&TCPW&=<.A;KX!:K"G8^>T7+3B3N92;G)`F16B*[M64<DTE6*#2KB%A)/F
MBON15!'R*=/E_P9$@DH!`)@\VJ.0@`<&H`-A%C(]4B4OFAIET(=%%VK#<4\0
M`CN#M"/)QR$Y=T-3R:$3N&AT\VC;56J8TG7-,R,R$B/8(8"MDE.YL2&@HXXU
M.B!^@C^-$E+Q,SYK]QU_TR>X40$I)505@QX<9@17PFWH2"@'LE8%*2]Y5`';
M%1NMHY<$,J<Q\C(_]@4PD"1X`RXJ>F'T(R95<E)(]`4C0@*IDAIN<#]]-(R@
MDD^UL`2#4`)?:(;#@G$O@Y_RI9\2IF>X8IV_<1SO425,@V\;<&W)8IZ^V3?'
M\2BZ5843""%$)3J6,RH5Y5-<%V'E4S'IU*$!1#&C)%1Q&&4'1$B75/\N'#H<
M<)`OH():X9)^`$,FM'-0=7(CS10&!X2"=F,G.^JC^)JOB;`%10`'+*9"CZ*I
M0^@R>1IWQ$@IXL%R_/)/%$9#.\@QY\J9#_.:CU8>!_0@A<(I7_`;1>4<P>%!
M9R4<)]8?S^.G:3@G:>@R:O,RV48J1TD@HU)WSC0I7=(<GF$;*.0$/&A'TX$Z
M!6DW7$(DM`(M@*I`Y8$P^C)=-P9EH4,"FJ0\!X6'M*0V`6(^2A*>K!9G/XA-
MAH4_*26,^Q<A+0(#WA,&<$`4;R`&:;`&);D$E@`%4&!^<!`#*9(AW6B(.?0Y
M&5(HM>)(+$*PH#(@V!&",RHAV\%\,:NE%@7_'`.&+`#22LHB7>'#!<YEB%U2
MA8'*-KZ9'R7TK7*0`P6R+K9BBCA"N87BEIZ59'/I'_P1(LP2B#1I>T_VKO&G
MK[9[NU""!470*([2*MK*6$^*I?KB8DXU:A)E&PJP(>(SB,HAL0(40+VY'RIG
M)WY"F9^C(F7@/7<ICN*3(KRY+#/E/(6$'JJ7IV3T7+8I*E"'+'4'I_@S(LW!
M<Q=6("Y2**&S*@J@&Z[":9W3O/2"&@@S-6(&4!7@'%\`A_2C:MS)7*)29<!&
M'5BK90<"CT7%<WF:3S/YCW^C;N>3+W+@&N6P!$+0`UO`ML(`#^'Y5[V72V/)
MMU/)+X_R4UY@/D+C_S0J.BDM!JC)0C%=TB)VYUWL)+TY`Q\D0+G5>BL4DZWE
M%'?.)[9G:"=1.5B:V30TL#<LE';INEB-4U'!`W<<%&5MXSMW4V6X6\;YB@=_
M8`!%8'NU<:!9Y1^<>6W[-U5>8(E4T[&$$A\4XKP7EE_6RAY0C$V<,XBF`2U=
M5QL>.RW*V4X50)F#DB'SY&4ZIFCW-!Y_4LB3!#-:5JH/E#8$$FC(2P+3,<J#
M>((>:QL@(R*_$;W@(5HP^!LE9'*\0C^/B259F#S.I1VA$YZ2I"+]D2J9XG#M
MQ&TFZR@'?&6%\V;2>U`!$`9580-X$,U_``18(`9%001^%2X&`G_RPCZYY/\R
MQ%$<-?EFO^$RPW,K8R,A2JD=2,6=CHNYX%$Q;4:;OO&N(?B6'=K.>&@!.N<9
M=A,OZ/6&CF.(*A2L'-,;:==*Q1)T7DRVPD/,%%(:8-9A=R,'9GS19YP$\DEA
MY#NRC/<X/\5#26LH52-6C?*8?*PL!3*^*66#[E$GRNLC?L(F<E`=L6$PGS-C
M*4*L86*:05M+W>1<`01`[G%3>6AUU[67EW)A+H*G.U<=WG$E*D-\?H0DYHG!
ME\F\&P.6UP5JQ88^DAEGH?/`;'4F-@TSRZ)'!<*K".IU!WJNLPQ<MR('9WL*
MO@`E@R`$2U`*K*`BA00_TOE1;-0V^Z/,T/AF4B?_)_ZW;HGM?TB5.,R(C>]A
MV/R&I5+7-+41!JS7?GQU+SPS@9+7-F-S)C2@?IJ[T/O&'QJTUE/S*A3B+9T8
M93V,T;3MH[I+!!*:B\X;)H[<3"Y&TH7"=304CL*QS"N(ARH8'_"RRB<FMH,"
M1E&+`/@YCIJ333D-JB;%!26;?C[T(L[Y,%-W3N.G'SFC@&_RNPB@@MT!'382
M=5YB'(=V:$WK*3_URNT387#W>AQJB'^=2$55(&--UDK2'08C'?O'>,-A!)U6
M,>;Y(8&%4\ZR'^?A'(M$!-E$!&DK!F`PAAQ.DLH0GA8N&Z+D`#%`;K>A'-GY
M?%&G.^Z=J7*"+(,V-=!1_YIWXTXHM8_#_-&<R4QCTS1X*EAUXJ<7&=KNP4W<
MT\7.DM;S)(<^DCAAD(5X<E!LU)>U7>6`V1$6GBFV@K<YU8`@-"_,E+PNV;(/
MDJVWHH(7.2M<X'9']=+O@K/D4RL(P)C3@21&1%:^/)<.]"G6-:*F1CA+++$4
MJTE3"8E<C$-HGC8_UH=62K6`!*#N*U^^81O1*4%:UF"G$>0B!\>-,V/7#3H;
M4`%)$E\#@R`3#-6'M6448C[C]F8;)6BP@TD17A[@.",YK4N"`@=A``5(L`E%
ML`5;@`4&D`594`(D"5.\4`0AB=MC^3NXMM\JBL5-,S4R,AUP<";#$RM9IBE"
M+O^"&JJM%S8J@$ZUIB1!1HRWZ7W<K9C`6Y[D630\<Y-/8E-(#$`$)``%</`&
M1"$"&2X$T6;E`/^76[`"H!--W-I.O2TH(FM'WDU[SQO`&X6'NO%HWL-=XKUU
M+M0CU'LG/3)[)19CWCLC_.8!,0.)R?,B+T@@6B:Q*MHQB%JT7-R?>$CBX\@_
MKZ:D*P:G3:@B'A5#"G/53F`C`6.>;/.[J4%6SB,C)^4"\24=PH8@N2BVE?LG
M?Q@<TN0P^]DF&`<FI&&CM^Z]M`$#HB1*8C(\1\0`@V$+2]!?:%P('1$0K6`-
M88`"&_"MK]<E:/Y>/68F14,LIY=+W8XH(1+S.LZ4/#S_.&&4*"BC+"I(Y&(/
M,"7D:(RG3%$V]\[,"V^``KP@!(B`!R9IDF8Q`U0>\*2_BW&0!4EP*+V7<7'K
ME"B(H+8'RF)K3P\O[5[R9O.Q=7NL0&WX1GAB.4YU8S1$9]N;2(F*;L'M`-57
MH;^A4YR9N0X#'Z#E(S:(TF$"8NX=;^X;/U_P>]1.X*J24I5#OW[B'__83WNT
MES@))]J=38IC7%R0`X8L'0;#D3B9KA7E(/$2&^@#""H(%8.$"(<P&A4:BA6.
M&FJ1,!LD<'`,EI8D&W`;&S`5-`@P""HD"JA&<HT(%@X.)+$D#"@S,T1$(B)%
M8F);$1$E)5E8Q0;%8D6\O<S*_[Q%"45H87*7`9R?9=K:,-T.*N"EAX8(3N9E
MY]TP9:^4`6'4#G)R,')00U=71/HZ1#HS;]Z(`%AD"9AB"(N5P"*LA)@W12"*
M(&++5B9+`00A4&`I#!=##OZ('$FRI,F3*%.J7,FRI<N7,&/*G$GSY98W7E0X
M(K2S4+6+E!0@4N"`G0(+1HQ80.JDG#ES3@])W2B($2,87F)]FZH5P:NBL!Q8
M0">(1%(G2RW(\N0)CH6=CF#((N%`@XJT:K\N8K1#:M^IXP"[V:31T2`$1@`_
M;8HHQ@94IRPX.65$0>4OJ!AH?G&&Q-*OYK:6(GL(7+C2#!P`?@2)"UNV<!:I
MX8D@1O\,!;9CO&"P8?74"F[6E4&@3:OGGCH-EQ[EQK2*,H(J1%*CP0&G(9J!
M;@A320X75FAQ$XU+R$)S<'(=&%'O"EQ1$@'D!"`!!0H\%"BN%!DCQ`:8+5O\
M)T0:8_1@(!8!'H3@&FML(800!D+XH!!@/#@&@1B.H>&&&@K!'Q\0]M#&%CV`
MD4&`400H(A@];,$@B0^J*`:!2RPAQ@SX$8%"&%`$T&,`0,+`!0)<;#(D.\91
MXH`3@G!DB1Q2A533E%16:>656&:IY1]`+!%&(7`Y4LUK;%EP2!F2E4'7%S&,
M)997QY$C53AOJ<"((W2]0@)T.E6R`71?P;+G-G9ZY01TYBS_I>8FG@@%EU=A
MJ:;HH:[$@H!5B@`&&!<:'7**&X\4XH9ZA_2E@E*)0:+!1J@H0)<*:&&62F8,
M[,896F.9X]YASTT53G(53-)I(8Q,YQH<7[!UZ705.)";;0S8]MMA4_56@2#G
MD9"L`CU1.\ZH,8CERGITC0)))')P@@DFEK1%@A>>@$+.74HY8HIS@IBR"5*2
M!::3M[0=8@$J&S@6RT<5<*'P//:A<(:.8=B2'SY#X(??P[C8@LO&,YQ14<<6
MHX#+&1[;4D3'1(2!A'?TS=?-8+$(6<AAAC029B%J.,!%)/K2M:A826W7D492
M;FGTT4@GK3326!`AQR([:>":)[%D_U7N(4\59X2N3LCUV*5VWDF($3OQ^5P`
MW`QWB`.=E''M*TCZ#-T@&@P6@Q%WI2D7HR0`2TB>1&VPY*F?Q>(VIG)*99C:
MHY3+RK5YSFD$9E^4P0)UK;KJE*)ZTKJ99F.AHRMTCJ`)SE[BE((I=88\,AUU
M<^W@R.MJB`>M;84I]R\"F]15&P`,@`(GJ->""8,*;M2)JWITD4"D(L7"D`EV
MF;C+G:6EK'/:(0H('APX;E`B%9.[`PMF7X0X41ED1FRPEU7,$O+G820(WSJU
MY'2K*9B&-.6*FH(BRO$<0(KLN4$29;`?S<)T,Y[L+!(5V`1=UO&*];`-'G"`
M@E3DL+0.>O_P@R`,X1\<$@909&HNS=L7UDK!&*B,)@SP.A.FQ%8Z<#!);FJS
M#AQ4\QRX::4HT'&#JN1@&;Q\93Z-`A-Q-J$)Y'W%3'*(12BLHAQ-&4)V:G&#
MJT`UB,$DKQ1(0<47,.,(+K1*(XER0@4`J*8-;.8,+U``FI9$OK?P9(;7TDC8
MS@4)<IPK$AI04P#>1P.XW"8W+TC*.*+3NF;!00%"JM4+)ID:WG&K=?=JEAO`
M&$97T>41-,`4)S+!KM>0X'J:@I5IN+:81"T%5A;X5W(",Q6DG"(5)$"=`T*)
M@"\@K`)?4,T@7'$IL<WL4G?,U/X>A;5$14I/D1K,\7;F*P96,7O_#H#:ZU15
M!K8<;XG5"`,G-'@(#HKPG.A,ISI=TH,9!$!A@F/'5^19&D$TA5*E>`Z\^F8*
M8MUI$-]@C%S&4D"OJ6U/7R'*5\"1&.FH(6^2<2$"YD.8Q<6B41`="]$$]Q'H
ML<**45+!8UKU#5BHI7M):=4&OB`OPI1#8+$D!-R6(D%/D&4QL)H3:Q2QO404
M2U6'`-4V8PJUW*D`%8>\C9D:>0A%P$!S%="-&%Z0!$H&YRBK*HW;FG4*LU@P
M3UP(Y0PU4(F+8()JE#CEJUY:FE8^Y:5,<BOY=D<WJR!F?40Q4V#@HC.HB0\1
MF$D$(+LE-E;TY2^*VTE?%K,><N7I%:YX_\4F9T-+:_(UBL'9"W7HML9XE0)F
M\/`"=Z*TSM*:]K3GG,,24`"'01V*'>CP%M;H\A05>*`HKB`*(X/E/,`\9S@:
M,5Q<P**G_Y'F+:!P`]YL*(BW\$XK,/A*U2`Y*D6-@Q!AP$3]?CF*IN1/*FZ;
M1*N,,"JQ5,(LK1IC,`VC$WN68ZEKI"W_$(NU87'27YWR*?Q6Q9/7-:MUMR07
M7FVCR.M>BK/#P=,D%\S@:)&-)_HKF)*6`@.Q6B64%:C&*4=YB4Y(4!9>D(,]
MWRI7J-RSF2V,I52FHP@CQ*)5F_P-(XBD!C`192HZA,%L9@R71GQ4,7;4GSE<
MG,)(N5BRS-JK9?_#U$UY92IAHW@%UCJQG:P4L)RHS?),2@"&)>@"#6`6P1N6
MT`,L:#G+<1!!"<6!%K/LK[9,<L2H"FQ-&@Q+&Z=[!2D(`5N$`E&CWZB,]WK5
M5IU$%UYL.6LGM@69F1D""IPX@V8D[8DO]$TYCLAF*!`P4J)X1DU'P:L"QLBM
M6MX3+7!92D_42,NE3,6%<<7+5%1%:ZG\<56@(D7F7*635ME&KS(UC&Q:IX$O
M,/C8`)CD)>VUK!HG:Q![#D4H,$R#34"A`E2&36LEF!5!*0:N+90H8YQRXCCS
M,:6X\8Q?FLHL4D"O7(0PQ2H&^U&HV1L!B&7,-^R=;_41N:O&$6;\>OS_Y"6S
MC02@RE2FHBN5FFX`"E?FW9DG?I(X]$`$*)!#)%C`\4C0X.,@IP$7H"`"AL2!
MXND$`A:*L(%.)5C8S?1*93SC!`4X80?(.R8MEP-81UUK&WIZ+9X%18*N"5/%
MC`F6=6(ASC!DVQ*P$*<GB->:2VQ'G**UM%8Z!8X[B>(Q%G0/T-+;O2^<II62
M:6"\IT7N$3\%+TM)2H)50!U:URS>,'"Q"KYAN&:KX6Y&:-,B%;#):TFGCU#3
MC:T67-4&#^(NA`CD%S23"%!2L3IG706GT8H-%/ZP@.5&,5O?''-&=G(#2BG5
M861'NT?=[RT7+L5.HF,S3?VEYC=#L8M1`<U7__!RL(2%WB,LN_?XD&!(]MZS
MIR@Q#_[!`.44Q\)JY4`#CHL<"B@0<QIZP*#N%V,-6`!_"4X._73:00CNS!TS
M;6B6R2SI+WECY*JX?J:OV>LY3GCB-K2!`!K``CJ$TB^G0PC1=3VGE%T<U@E6
M-TBS4V,Q$`"DX`'2Q@5ED`/M@#Q'-6R%9$;B`BAQMVMLLB0Q-V1.8#-RDG0L
M1&YQA2M)T8)R5Q@)MQ?V-G]L$@.:$2UWDQ8($`F841GBH`@(=QC;M!.*)TD+
MEFS'%BZCPDAE0`]JP!WU(`_50`_M0GW5P1V<)SC&,1]@D3YPE5/A!ABWUQ0>
M,&ZVQ'MTA3ZRT7J.H/]BB$!`T74\,.`&R/=2R!$.X\8]FN8(LK-8:.%8T`4U
M.S@;?E-,?!1Y]K83\L`.OU1%\<9\#&1.Y7=:)2`"&L=Q7)!]:<`0<S")GB@2
M<2!]*+"'AN<K30$+XV8JKR2#ON(IXQ%OOZ5_L,4.@P%<>J97_J0&>[-/XM0N
M;6$)0P`'P`())!`#PJ=C2:8F]>`&0J0J92,N[H$4HC9J7Q!1;M50N:<I;A51
M+MB-^:1DK,$:^+81MX.#N<$M.5-$33$=2J$3?[13-DA)#(:$"S95+Q`#GS6(
M:G`Y'*9H<.`U&_`=J^*+2B(+@?)#.[,J<U6(J4-Z;+4^GA$=Y2`G?^1?".#_
M!@FD#GLG"/)2/([@0L!A&G.2*#ZH3-22*(]U?'6W*I$@#ZY7+)%`+`RD)R3P
M-!"F<[#0B*7SB>ID<2C0<5R`!B7P!YW(DT99$GQ00D_E7-2")N.(6#*%%'2E
M.+"P`7:D`C!P*(="<[`26RNE`.`@3[`P#C!)@+&`1+%@"9Z$0;YX/4=!=W<2
M'#\T&`2D&K+!"(7T1`PEC:Y",&/$&+"R&':9C?VS@FAA#J&V:S:73[O3@':Q
M;%%3';=SCK;A`+/1)F_Q.LPH5(/%.E%E*YO18$:X8*'D!M6WCRM9`1X@!UZ0
M"1[16M\12O#!1.UR"N]1%.O0#0_U/<>C$70HB"Z4_V_C@QBI@$R$<!N'-PBT
MPV+YE$`$1!Q#`B7VLA-HH5P,(!3O)8V=I&DK5"K^,T&H>3G,\G"UYU#B>9'6
MM'>"$@:%=),TTT\,]'Q'"4)QL`90@)I(D`9%61(1$'Y+@`9(``4*PP7>L3`#
M6J`$.J!(T`/[.9]($XI@P`!%9V".%C6+\%2IETJ\QRN_I9YI8CI>(8P]-)N>
MH45*HA'=(`<.<`WNT#USP997UPEU47>$R#NHIU'L8(C0`P-NPB>>H126X9=?
M`%=;8XU+QFHH9HW^UH*H8`%9A0C7]4`.R`#A\#Z29QN8<4BX(1V/I!/,X@9W
M(PZTHPBZ42N2-)H+5BLV:/]O^Z@(*TE%9;4.QV<54W-1KV$$:.*<0/<-"825
MT:$OQAF8JZ<I@N:.LU$!!",=A["<S#D*ZK`<P6*<BX0\-FB5J#(P8%%S_])"
MX[..J`E(J&D=`5!8#@5!J<)`:C$?\-*>AL=,]1.?#MI!<Y`&]\D"06EF)%$"
M/?`&*[,S'-=QC!JLRPD%41"K'60`8C`$=AE==I)',CDV>1@E7<%G<X4F6GD.
M4,H.462GV=8H#C`J6H%$:?58L"!:5;,!\')X5*036R%LM!=(K?`9=T$X0'H9
MU#BO$151_-,3UW1J]-*-2J%&B>,K86-G-`.3?"$>2)49)%!C7-0*>(6G%?DZ
M\6C_IL=&2;G!&]0Q&QO+8H6D*C4F6C1`#Y@R"=N1)R]64ON7=W/()X5WD:^`
M&=SYC?N#"K/T"(0C..P6K'91&E>6+PLIB&[`&ZD!2T:Q504&:_=4%9?#<6[*
M`M@&!S;9"!M''>1E@GRV*!<EG:LQ>QVY$_)IK$=3`BA0?9FX!B6!!2(`!=5G
M?3Z"`F@P9FDP(&DPMW5KMW5+MWB[?4,IMDJ#!R6P!2(`!]R!7%W5'(<:07.R
M/Z=R)JKD%".6+T&U#?"15O)0E:9D.%''%B@K793@!8BFHY#@&_-R*9Z!%]DB
MC2D53`Y@=K&4%ENS6UB;.$,&L)6!BPVYN!6`-\03F?NE_PAEH)@,0#8*P"F=
M9!F&&JR3!YH-EJ6W$2V6>3D5>7@AJ5E*1P,5QD<UR3<H"X#[9Y>_$F\.X"J5
M%H3#.8X"`Y9W*8/:4`%FXJ7+R4<,15YH$K!<PS\VF`FG2U.%4!EDLQ@Q1Y;B
M.1UE($[=X%$LYF*L>B88B2164Y/!(7N.9B>>*29^:S1IP`4L0`-H@*LB$0%I
M$`#[:*M0@`9"@`4->L&?&(I\0`3U\&(HI7-=:QBO<CPWU4QAZ0F8H'5T(3CN
M>"W1M1:/036,\AA%]@K7``OOX#QCI43?50IBH0W_0U/:.3F6QIAHH1Y)H5<^
M1JJE$7>JNS[654_:.`BH(DNBZ_^,&M`%+7@;+Z!%;E!S_FLF",RH&F`$S#M)
M7^"_2?%KA(>:@PAE5A%=P$9%H0!(%890%$7$L40*6,E9P+$)RL4)W6/$HT84
MY).'V/D^U.N^VS.FM!,^>;4>N!)1-SNTO\@;ZC&8[IL*`-Q".;6SLU$_M.PZ
M,5D9.B8.-B1/+ZP58U$_H\`_YL(ZI;`!*HPE$8`"^TBL^UD";Z#!&YR??7O,
M8@NX[70-IS!2;F-%-SDXPY$K0"L..F0)7T!EF[#-JZ(]Q$%T@K,.%@A$\_0<
M<Y%$=WDGS.J>LK/.DI$\IO&C6_R5]80.XWLW3>$W6`NQ?(QN6Z,K@II/^T8S
M?&DG3#S_0X#$"B[(+UNL1K1&T;3C`+MAA,ZA/I435*@72CN33*-KD`5$O1I`
M"AJ'%7+3#K&0+]_DIJOR%=Z00J/6%5H42TZ@7#YW)QL],.^KG+0#EY*Q%')<
M1'CQPQLQ2N4LHXR#-0-C&23&5B@H'2Q`'`G$:=\Q'56]2S66+X*@#3FP**Z0
MQ1M`#]_D>M="*21`S52B!QELJR*PGVN`!AJL!E#P!M,,BB40!6GP!FB``@%:
M'XB=V(J]V(R]!'*=-'CP!UM0!&>`+-BY3(;Q#46]2G/5-6Y4SF.$5EO57H_\
MCGM3%&$YB_D'1/FW?Z;SKM'%RK)C"'#WND>U%)81>,]6:.CV_QL]9F]AG-OV
MFRAS$M*-*<=MLDFK0Z,5K0$[L,5*S20)5W!0`S^`-+0?'4>>U#TQ0!?D91J.
M4GN>9Y!S$1Q.UM*"HJ=(TBFL46,$]%O"`73=`%!4<RTW,(!46W=:!);U5)'Y
ME$9AK!1&-"J#4,G5H[.)=5?J>-6+"\6]:0%<8!UA8!CKPXR&P23;H`[5!;NQ
MP-9?&V]P9\QZ,.(D7N(F?N(H?I0C_@=QL`0:+`<,*A)ZL`1R<#ERX-=SH`=Q
M$`=Z4`+_R;8;]ZM"/N1$7N1#S@5H^]A*$P$9(`92NS]3L7^ILST-IX`$N2=@
M.PKA4)'HC5"APPZAHRC;D"MQQ5S0%O\VPE8Z:#(6&*E*9X$.%D!JD[IWQ<E6
M%EK=IW+12JVD>B22$GP8?8P4[Z,"[;DJ?#1C6U,(UH$9G((\")=-8\4(Q;AX
MGSUYZI4LED;:KL-5`;06E=+ALH`PZ*VB6R%/B7%=7OM;&:GJD`*']9U'O5O/
MNXL*/*H6T/41(P:[KM*"0(/;+KD1R+)H<.`%LH4UE4'0#`X8/"4()059G72I
MT7T.3.+LJTPP7+`.]&`(1AMW[?,'*/[MX![NXC[NY$[N+)%F'(<"0ZGC6``%
M'!<`#%KB/EZKEW-]<3NW!I+O^K[O_-[O/;#N>J#D2A.*0D`$SUGLQ3'548X`
M<K`NR;)2C['_AS#+?V%#.XA`07_VO:P].+55W(88;VU(*9+Q'`SE78/`*/+"
M0E[EAJC.0!L!W:V-*$SB%8%9\P8&K01MB#NX":!0/QM-=S4V:I[@&'#@&$8?
M`]--19.G>$AEZ2L5VHS&C/(R&)!Q2S0I71T>%JN0*=OZ*NKI/'$QA_GU?PE$
M*%@9VRBO"'$^Q`ZUF<I('%WO8=>(;D&:VQ8@.)`^"4SD1KW1X(]'G%;]5E!>
M/(BQ&%6M-OE7",/20VN^'IY$`O_DZ&,!NRTHXN5^^9B?^9H_[CN.!APG`MX^
MXG5-`V\P!SD^XG.``M"L!@%`9B40\":N)20N\+*Z!DL`!YHR"=5X_TQ7!@/9
M4<Z<D.F).(NR#$'-H=ZF(SJAP376^"O@=1K*M4E=*<6ZK&2P\@GL]1P93>4^
M%C4+G19H$5ON)3"FH6+WT\>+>2?446E#XBIN<ZC5-L1BE$NG$`.8;K,K28[*
MI@!4"@AE#F5P<%\;&S%?APHD;FX.)`Z1DY*#E65EDF$(90$.&R0:HQ5N@@ZF
M#C0(,*V1<`YP)"IEK64JN#"WM"HD@B0*&UP5*L$;#AIJ:BJ#""H5SH)>)+,J
M3M?8%D;;D0K;1A86#G(PHPIPB.@;,!8JSDX(\4X6"O3;V/#Q^OOZ)$8.Q!0H
M4*%,@P4W!5G!F+2PC#8'X1I14];OUKR(W/\V_-'#L:/'CR!#BAQ)LJ3)DWKB
M1$##0DV:E''BL&2!!$M,CEB0J&D)Y<V<.1SCP(PI%*71E"#_*%W*M*G3IU"C
M2IU*M:I5J2667-G@#@8Z"Q6@(:@`,1Z#LVC/;G!204-8:"1@X(HW2ID:MV&=
M18,(T8DU6KO>Y?L;SYW?22K<&,'UU^'<N3O>=HJ75R\NOW/UO6V+%T$[;$;\
M(LBGSP)FT^$V(PBM((:[9'<UD#BT`2ZX9VX$!A-(8L/=U@H8Q-CPA3=G!ZT9
MO(BA`($#!'81P&$P"=&B#<$F:?>%J=(@.=I[0:+VB)F#<I5':1B;%U5O-_$<
MN.LT=Y"N\[/6&[/_ZY:5''VT0%2&7_A<HX(VINGF#3A&P"''*`B$TALBEWUF
M33Y.Q."/-Z9APP]E^WBSH0((*5.!$6ZTI$98;N%V33CT4*-`&'=1-N!%"&:T
MT5$\]NCCCWK,@8(R;\!4`A0LT"!""41A@0(722*Q1`ES$$54%$N((`(:7';I
MY9=@AOGE2T"6>=15:*9I51Q8]%`$$0P<,]98"UD`PP:%%(+60&.1`E<K<]9U
M%V?)$'-9)A>Z<YD^F#DSWX>5,<:8!87I19EDDD7CAH&C/<H>7F]9X`]$IC&Z
MSZ(5BA5/:$:X5H%=81&W"`D5('B0@M@ULL$H&[A1P1=I";28;$8$%\-S_YS9
MM2("<B""B#&\A7.*"@W=5P8K$T;2&S4DT-D)#'/VV=\P\<A!+3F9.2-7*^O>
M,HE^)'`1FZKS6=-A@?@<N`UOWX#3VS"E.(O(?QYZZ(X%,<CU38&0ABNC-RK`
MI@8"CNPT:#QRF2*.$<``@TZUH\V#HSB5[&CFR2BC1-0<;[2T1)-0<I'&RDO0
MT!(*:VPD5!PE]"""'#0HP\+01!=M]-%((TU##T6E[/33/*KY5!9;%!'G)=3H
M">Q9L+#75F6^I)O,>A)3I,LN!V8RV*FD>:I9?Y+B4@8TBNZ`@-U?YTUW7]:\
M4^E;H$(CCC_AD*99)^U,2EC("$=L8C_7(3,JQ_\R`A/#66YL<-8+G'?.`,?>
M.-`J<Z*HIZQ==V*7:W&\W5)+I<X@%XPDO32"W#'I.@"PN-"`6P&[S[E!K3NU
M=%5++;IT"TVAU,XY?,@O7H2O$_V*ODTX"*AG3F_3A!W]-:,Y@[`\UWMX]S[0
M5.99.\O?I1@,*JIZJ:IAW:G+\)<=6+AIF9!@,M0`1-E-XK"$)"T!)EB`DAQR
MEI(2(&%H4.C!3XBRAB?M9&AR@`(*N"2")7CP@R`,H0A'",*<-2V`*$RA1Z3F
M%"PDH0C'>,47IA.GR#Q#-?&1RSOJ]2IEL0`^:<O$@`P3K@\943-TPPQC]$*,
M>-C-:Z!RU&T2MS;`L:C_+=<8$(P*\PQ&66!NJ%$4+BCE!`4XH5#PF$\9#O$%
M9[0F!IV+XPL`T#DZRO$%C6B$$98SN]B4[72Q4-!NJ,&8YV2/!(9(AP)N\07E
M$6,AW1">)'H'@Q75CT[KN)8<X!,/M-&'6@L!F!OBXHY+RN5"^RM<OJBG('!@
M[RX%T4`,J0&[?*'R$<R91SW,=SZ\]*<SD7C$BC@&G<T8<TYT$Y6GQ'@A`CEA
M0"2PDC2G2<UJ6M.:*@3)SH00M"+A!$I08))0EJ#`*=V$97(8FAJ@@(8TK(%*
M.R,*U*:9S7JFD(5+P8-*,B`&,\R``=-QI-<J0Y;,)&XLIZ-(-&XD*4X=L6'L
M_ZG4$@\'F?.E+R\'\D8:#P0@8UX1>O``WX=Z,8O8B;%5HQG(BOH&H#)(I(XP
MG6-,.6='S@VD%*[)S0:R%YN$JD@-U7$6M!0@'V:,4A+<Z@T#&ND&&*A/'Z.,
MA!SJ=T.,&1)0R*/%*7D!+C'VCG@1$\ME7A0:&#%L-QSR4%W44P&D>@$&V+#&
MC9QI#1(H8D'E$VE;5J2>['6&<K-0S`T]:DR2.>):],K?6+]8!CE<\[&0C:QD
M)SO9-:03!56*@V5I`L\YB"!H4(@"4.+`L@#83`XH2`,6@#(4:LY3GO:,+0"%
M@L^EQ(%J8CC#!JX5+H(Z9RZ-ZF%"H4&@_.$C'*7T+?^(D-A$+CY*58O9QQ,K
M4RR!6*BCA,V+R`A$*63&QQ\[+$T,%J-21M6K$_`H@W)F>L?VOJ"-;LCI&P7B
MJS\"D@;G$94@252,.%FB-[HB925T>"IM`<QWA9F$NECA'!W*[7Z6"1<1):R_
M<)15E08JXS<<H%=8SLL2SXGK]YI9QD44)Z_@$RZA.),7B<``$HO)KEBI-S@C
M-A0;`Y*+8RG+XQ[[N,=S>*`<F*0'+*13#C"9`QIV@@*;Q"0*4-@)%]!0@HXT
M*0I"2(.6MLSE+GOYRV`6P1N8)MLR.^TF'*DM4TH@AAF$X3]%9(5\_(;0X9;"
M4NERE)X'&M$^IX\?B>EM/+3_X8XN.'&Y=N50&*.AMV-"CZ6G<@XPW`'$>+R1
M>L\@3*/D$5('R-2][:4C1`2"@.1<3CG"`4A"+?;B\J#BJ#(2V%*ODT="9D);
M<_:4J)S*8$/!8)+/:QZ@27:>+M*/7C!"T/?B"CK><*IL$/K%6*-WKS26476A
M8%\%X"%<6)+"3[]J!#$(G=W1F(8;D_@S@(#[3-.4D@L_CK>\YTV4-*B!!O`\
M$@NX4.68L$0-/B'*&VS&!1&,EB@E$`$4N&"SI#G\X1#G=X_-3'&CJ%DI<=B"
MFPU)L?-82E"G6X\1MEV8(68&H\E535Y4`Q80/5=5HC,DWN(!G]P4ZS;1I06+
M"=N._T\]=="DN9:BDN,-1N'#4IZ!WA?8:T<ZUI0YPLG-J3>WWA<PH$2K_O47
MFQ$C8\CH=M.1$#4,.<9M`?%1B1&'K_3RZVXY@WY%#(LF:IUR5<W#E2C.<!EM
MUV[3")>MG9!$-N!A!/'AJW(DH(=3W>)##_.5K678*0+<@-SL-I-5'G_JHQI5
M2C7`F]Z@#SUD2]#-F"AYWTZ629)F%A-]JZ')5L+"SXA&`RYD$`6XS[WN=\_[
MWOM^@VL0O?!]7/$T7YQG:RA"(;B@9_O"2BR4JA4M,.,7LXI&QA?=-MQQ6/@R
MW'PL'$6%9V(PWL0AEQ;:(VR?\F:W)R(]I(JB1W(*WT2'<O]Q'HQ;>AQK&D?F
M'(2/S!$:=Z<;4^<`IU,*CW`)K38>$E$=,T14UA$*H5`,8Y=XP)!K(X4+8O%K
M<\-@FH$W%]4)AQ!VM$(O+W(OX(`OWG`CU^,.L<0B&F`*]I(-&KAM1]<+LP0*
MB[=JRD(HX.89B+%SI&`@Q<(MQB8_$M4I>[5CP]>$H1<!*,`"F!43`^<2F24"
M]W9`,;$&`;!O!I=9%00EGH<"8U8"&W%Q:^*$:KB&\S84:/@')2`$1>!F#,>#
MRH(7R\),O&0IZG=%OB(_V0<-=^$/U]-=J$`,I()<M]$+Z:<W/O=4AF,XA3$Z
MY!<#=.,HN+`OP@(.HP8.^N=>MC/_.O&%(IKX1I=C=38U-OHS"8RE'8TD'[\F
M$;IR#,#P+))0)]J1BV[#-O524N@S)Y&1?<[A`!KB"`<Q;=*#87_!/]J@('YE
M3&XQ"->"*"\24<UD#1R#:PHP57_T4R9B.GYR(!`Q6'LU,7^1C?_`9R.EA*3`
MA&SXCI/%34O3>NF$!D31`S9CCS'1`TC"!4S3>F^03FH@!P8'CP9YD`@Y;Q>'
M!WC0`S.`!$`#;?P1%M&19Y$V%]BG`8/%7)NQ$S87.N)C=.)38:)B.AF)A*;"
M#^ZW,<6R*3!R<]6U8?X@">)@&IIS!E87)\;P!97('*8H+,DA')5X%LA`>65`
M>6%S"KHH_U=&P``6.!N4$`H*MA?B(!<U"3N`=@N!YTL@(HS&1`WJ4R#)UB&,
MTXQX152!LW+,@"A)YP21L!DWZ!"Y.$G.UX,>%HX.H6W)8H[70%00X78KEX$N
MN![,DI"&.4U(@@:9Q1)RD%E8D(^.J4!S\`=;B"0L$$$39"5S@`580D*>^9F@
MF7J'.9J'^89_(`8H(`?,5Y=W,49ZB9+K)X3K\52$U1)DX0UX%1;S82OR$1$*
MX(-7Y&B[^"'NIP\LH)&M(A`!R"#W0&RB0@(B(RK7@AH)8F+,,1S=TAK%$H![
M9XJN<2";(A<#P0R_$QQG03H7R`SN5CR_``G,4($30@U<\5`MY?]47Q-]*P<X
M@)>?(B8]X',-U=5*`C$O'L4+(.66Y!@RA7$1D:`-.W@Z+1$_@@(J;OD/-P2.
M\2<@HH)#%)8/EE0K[DB:!_D&GF<3<[`&GB<$IH<D4!`!,9%`+"`'=F!Z`[=O
M2Y!9+_H&%G1!$->C/@I!."JB0HJ0>G!Q<U`"4?`&2``#7#`V!;$BIR1BPYDW
MWQ9%\V-,0B-R,0D6\V$P"&)7P-EH2(@AX?-0*I"<WC!>EW8]9,$7AB4?)T@G
M&],(,\0<LK(.Q.!_^A*@BL!;E'<@9$$,>V4>P($(M6BHY*<`X*(QPK.6EX!K
M@M!S]#EY%$D6B`4X!SA0NEDP<:4H-[?_7\T!@XUH!`Z&?Q3C4?N@"23CEKH#
M<CRH/=]F#8@A+FSEJ5]$,BH'("FFF[H9!D-ZD'.0F%42`0\TA7'0,ERP6FS2
MA5"P!E62<,J`!*(UK&F`!/*2)+:G04B``MO:K=SZK=X:KN`ZKN*ZK6@@FK^:
MK@>I9G@P!UB"!E#`I%_32<PXEC`R'S[(5NKS-6[!>#]UIM]`(JIB(1<!IA+3
MKYFR#Y%(G/N0G$T57X+4#M&8EZR:>(I#+0X!8H,`8+2V=C87L,#176/!/UK9
M0PSVGK-$#>(`+,0!!Q7@4JTAJ>OBJ+'&2?3I.,=F7_(P)]'':?)`EM2#CM7%
M'.@1B'DA"%W*_RFHJA>:("`!8CIVN")^1`IQXU>U^HR>40M3A2FG8I^QJ0(!
MH*[OB`6>)TY"<&]1\*)0D@:+N6\21%I8J`9+`H8H8#-J$`#MM`984`)4TK='
M^K=^&[B`.[B"&[@1$*1BF[CPJ&8\@P5"(`*IV:2R^@^BPB`.(5)6RU8(2QF-
M*#0M$8/"4UT*VR$`:P1?T&V6U!\/%5)(=SYSL@UA%:#"`AW+X!".X00JBPNL
M2`O$=FNWT)2J0VHMMB"3\`]B(5;DR5-DL5R3($2BTDCR61O0D$?,X2L!,B'.
M4@B^Z+IW`PW(L"*!X7R%MS_@\"HV&%+@TTS-F*CKH*G&A+%]<R!^H?]^:D23
M[28O4<L?L-HBDL([@#F1V1.<3S4V,!@6;A"BBBMZ(L`"BJD2#Z285?)`2/`'
M55)`:N"L_M82;%LE2K83-$!E/S%!'$Q:)#S")ES")&QZ*'S""=S"AFF:<%@$
M9X`.#2H(G'(A=-&(\TJKEF0Q.S$**L`<D[=<I5(,V\E3`$R?^9"PEP+$-!<*
MP**)YBN7XH!>)&*ZRM0IXB`(IR"!SX(=)6C`B]&,Y/@6Y-D6'J@/-("(A_HL
M<<(`3;HB"@`LK.,H'8,GAAI,?>9SR=`)DX"_I[,:VM`OX*"1\D!$LJN=`M%&
MG;%SO_-B.H2^,8:J77J4#Y:_=PB.;D%]I43_"H41IIR;JR00-*0P+X7IPJ(W
M![4WK6E``S2P6G/0`\H@03\A+R)`6BR3)%]XHNE$`TB`P9D5`5B0!L2<!D)P
MS,B<S,J\S,S<S,>LK*@<S<('PTLAS%L@!D00"EJ99V'*&3R,%Q'Z4Z60*?7"
M8:56+%^`=0DQJ5>JNKSC-98@$+TR'#3`"R3#N_2@'5F$.$HIGU^0"5]\4Y)1
M+#T'']EWE)R1+K@P-IXA=F-7%ITQQ[.Q#LECJ-G+LL@B5H6G'NZ"N@41M/TR
MR`>2M//0D_M5QH"C$*5@$5V:T7#9M>#""@?+'W<82[!J&9D12V^W&9&!1*""
M@V'0I&3#8C`@S?0V_P="0!,<'(68=:0/3"5"<IGPA(]J`,%SD`9'=J,AC`4Z
MJIJN_-5@'=9B/=9D/=90@*Y&G=8\1LU/H4]8(`8B<`5AD`,QS;G@=M?:(S1Z
M#4NJ01B$AIN-U(,J>42@@K`%'%%M-8LG%B<C?2!C%P[%RU@WTL__!7X/XTAF
MK(E7FC[KH2CZ`'+8DE3!H`A-&A9<T`TJ&PDCJ"=H40AD-R$CYQ:W@+]_="+[
MHHF%F`_:L!J@:ET]=TS0(-0RV"GFYC4]C3[,8)_]"HX)!1OSZLT+JG8[8;Y>
MXUU()&<=0P+<J)OVB<!J/5E1_0:F!R6PC*)JD+9'&C2L%ZQ2"-6;)0?32O]:
M;V"922('<A``4(#?^IW?_+W?_MW?`/[?^UT3WUW@E,764H$'$5`"6+`$;A8`
MFNI+:9D,ZA2A/0@WA"&_I5@7L%F<CK(9R]V(GD$\$S(=Z:PADH()[5"\O.`7
MKB/:[>L.-'`G`@$0`^V4&;DLF`@;$D,Q;'06=.P&ADV3\P$*F@-0>1(&B-0K
MF4,-3-H9E<2#K*0;`;IA`-NH@USEHG,+D@`)M]/)G8V^T/"'3$P9]!`TSY<]
MU.*J@S)*BIJPS>B4/[PL/%T![;=N4D4"4&#??Z@"`&,!&V#@/699-!!\<6!O
M`1#"+($$'+SHBNYY(5P"1Q;"O#PT!4?IF)[IFK[_Z9RNZ8+^Z=:$X%(3`;D5
M!KY#4&^QUQ9^A[\S%@8R1ON"'84RV.H6#Z%0P/LK.#8>#Q.]"/[5J'.3"YF@
M#1NP&"9G$;]`"7BA(;Q2X]"P1R\@O>ZK@1"B#SR8%]3@ZW'"R&S%;<5P5S#@
M!1LP#0&@W67@`?$0@-[PW#Y8$+72+ZWT#?X0`[EQEFJZ18Z=5-H2#X/"8:0Q
MSF7.*`,ZH6&A(5&^++DQDSKMJ>=YK8^#JA[N"##0+'*@W21@ZH,2W*`N67-0
M0(WY$RQACYN93DRSF3;#MCPC+T+P$PX4HQ@<`37*!6\`U9U>\S9O\QN?\S<A
MZBS$D&WBX*:.I31MX139_R)_2I:\W2J[HF[NQ[6\PV*-6`PD#@R+0$-?<!!,
M-&[)R1Q.^TQRU6[IQE:/X"O;TAJHN+4>I1O'I`'>:-.D<"?02U1W23&[06L5
MP`7;`A[/Z0]C7U_IM[^K<=N$O`WD]PBM<IYW%6/B*"JXEE3@@A?V0AAD+FB4
ML7>BP%<4@1RTHABSHRVD3`QQ86[FH=<0DET]_42@,`[40`ZD3)A^KO/51.DA
M'\)<P`6B=:R0_A,M$TX@SP*)7L%NR_)+]GHT?Z11T`/(G_S*O_S,W_S.S_Q1
M`-6P7^!5PO.F.0=;\`8Z@`+Q0@/+3?K0T2((<KF'H2!("-RIKJ_[:_2^,B#:
M@O\.>2(+C=IBEU/_BT0+CM*IA!@QX`8(*D9N)`H,#"\O<!6,C8P*,3$;"!4(
M,`AJ:BR9G&H(<I0:C!HJ)!L*&Z,:HB2F;@Z%)!85&C"F&[BMNB2KM*N_P!I.
M"D;%1L3&1I$Q;D8D%;`*"F4J3FXJT=(;NK`.&PZ7C`A.%DXJ"$;G""H5.PCO
M\`@6T@HJ:J*TZPJQTB1&L#3NB=IW"9L1&)TR53#B2)PX=_`<A('!956F7F4<
MN)$3IZ/'CR!#BAQ)LJ3)DW'FJ+0#A046E6M8R%$Y!P4+%'-2RF'Q1F4)+FIZ
MSL$2@"=-$318H"E!$PL:)%QH2)U*M:K5JUBM<EF2,R?_RJ]@PXH=2[9LQSEZ
M_JA=R[:MV[=PX\J%BV<HF"5HP@2@R$D#)7$6RI$K5TU;#`3N=E1JY_"7P%6A
M1/UB=*W"O0H>8'W9`*<S'`5NW%!"8"@2@T@DS)U342VPA8RRS-&B3$)T+TLP
M&C:"L8Q9HTR;$E[4S<C!/EX:!$)CL$%.!1C4WCV'%:;5MFW.9P<+-N^8M&).
MG"A;YD^!+U'RG(Q6,4\;P76MY+!F[406:Q+OPE=Z=V[QL6.S]*(!(<X<YPP)
M<M"0G"@6F*)"&0B4P5`G+%`F'240+:88`I6=!PP"#L@!0QAFE6@B2EV5D"!-
M;]RDATH[O11'"9O0E(9,*L6!_P8+`3`U1Q29H$%3"6@DQ4)62":II%0BI'3B
MDU!&*:5(<U5IY958NC5'"6N(0004<LA11B4J$!.8>(&528]TBS6TW62^Q%F)
M:&Y,5D@,GC$`!PFL5>!&#*<=(JAJX0E&CA,.%&.!`Q8@P,HS'L*IFVDQK&F9
M0HP(]YANICAP42_785*<-&Z@TDH8VY#`A9MOTO+?=\3$$R$)#)19$3[R-.J7
M$V7L0TV##E"2D2T(T%#!.>8,PLXX?[59B05&$.:H7\64YX\N"EJDP3RMK-,?
M<)Q<N-]^LNH:Z60PI`M#`%.V6^(<0G#!!4TVO9$2%O*F-(<(+$!!4TM-PLA"
M&BFIJ/^4OEBTQ`(2:<CH;DDT/2SQQ!1WE.7%&&<,5QP1;)&&&6>866BT:DHS
M&B,J;%!97\'\)9DC*OA%B0JETD,K'+FL`ZB@B"#"YSKFA"<T>T);<(X;+SSS
M)C#YP%=@I7^Z8=F`E<9`@B8L,TU*?S!HNPH7LM0Y&P(D.#"GU<>&XD9NYP+3
M'CV0J!,/A&9[ZB@ZMOGIG@6BK?,/?#`$-(YX,?2W3D,7GAE/,]?*LJ@"<GR:
M'-FM.,#:.AIL8I$:E22GD'00@=,VTR*FRV[%J(.4XX[^S@B%&FFH)(0:K<^!
M!`M<#255#RJEH087?Z34HAP^KK&3'+Q'G+I'7BWO_/,G-:__\?344S]'!C84
M04087UAPRC$N:P#)SJ>!-BUZO32"7LRB%+./S:\@"(,1A^R<"")?K.-M>*PM
MNNS@PV``0B2CM;Y<KAEP6Y,H:/:G?03D(@:\#"TX,4'/^64#7R!!;GY1B/<1
M9&OL"9;ZMO.V\15.5O%@GR<6(C524$,=XK$</!Z$H.148!B'\1:;1O,7>40K
M'LXXAN,2);5/<<X4G;%<YUB6"4>!2R'NH-FYE',;UJ2+(S1I'O2FE".;("$E
M:XC*&M"RA(71)`!J2)[OH.`CFZ"@8"T1RAQ:(H<Q9C&+J+OC%O>XQ1S%(4LM
MP$/U!ED]/."A!%C8@@W$4(0SG"$<_ZM0P0MB\`6>;49EHYD,/HXUP86\"FZ-
MJ@`)[->S^\WG<O0Q&COZ5`$+`*IKJM#DYFK!FFPD<%J6&9\"N!"<)\K/%WW)
M&B.X@(!;)4<%Z4*FL2"S#FA%9Q2<7,7;>J,>%+ZC:[<Q@J,:(2MR."`Z_+D$
M#1`0B6O(BIN.0,</]2>>?00F(U)3A27B@X!O?$MS!,S4$_W"CJ4)B!$PL.(5
M]77'@AKTH`A-J$+]&!9Z*44E/?B='7(B`C4(2251\5&+<`*CH.1D"33@0@E2
M$E$NQ&Y+0H#"DE;*4AK4D:%\C&G%_(BE`MS@!A@`0`$*$$A"^C1CACPD&-(@
M@NW)X05G$/]44AGPA4NJ3$&(FQ;G"-&*3_+)#1L@7R+N9[9CK89_ZEC(S`ZQ
M'NDLR#$*@4%H.@BW2MD05(#B)02Q9@L2!.12+/`6,(.1$'^V$E&L*8-H5!`#
MYSAJ&":LE`*LR9][]!"=W%2,-_4WPW*>,AZ;A$<EVIF?=_QC,'Q+'V3&>5<%
M!$LZ$?S-)C;Q'.WX$U?(5->("+K0VMKVMK@]*!+4D#LAX$@E**"!'$.JD@CL
M2`0T">E+YL"ZG)3`)A>U`QHTT4M-6?>ZV$T(%Z(`4YEZUUTYPA(0<`H`#/"`
M`CS@P0TX`(`6_/2]U`,"%C*P!48ZDCF'J.0&8-F("5W$($$48C'_EG&(%Q0X
M::-HIFHHRQX_)0T>0@N/5!-"-F)TT'V0V(#6:G&UX%0`*"PX4H+Z8AE[S#"[
MV]%.:Z@Q2D2<08;MHT<D((&?Q<RPJ]A(VV,=(0IJ3&UQ*5P-FYS%B$)UDS"O
M2&?,''4.5K#F?<^`AVA1YIS7,JT2`85.,DF4VRY[^<L&?9T0>O?;.=(@>7,H
M<TO07.;;"04+4EGN&S+QAHG65@]XSK.>]\QG/BOONX">&)8`0`'WJ@4(!0``
M!S!P`PI0`*?L+0`0X$MI*QGR#T#`0P02R<@BZ(DYEGL%:$(3+-9$ZS\7'E\I
M$]'51@BF&JIA#VD0W,UJ.K$3T/!.8NNG_P"T3B8AP:DNYQQ@N28VZG">XT1P
M_.F)\2#B?E]XD"]P"`E=QH-,K2"R8S4+31YSCK&&ZR=Q)"SA>)AC4:J@Q2;Z
MV42IE6(?HK$Q*_>SM,=L$C+(?%`9H,-E,/O[W[4M@9C)/),MJ93-`:#)3K@[
M!SOTZU]I5$D46#`OE;2$HP#/^)<#S?&/Y`1++>`!!^#2@A8D>M&,OBD&V*O3
MGE;ZY7(!0A:P``8AV#>II\"%SG$!M__@`E`&/L09()7.\)1A48R:3RM>.!]N
M;RY<</L"I0R,B@=*$)C7]4M%TC5!-;!&9LGNZW8XU.("/YL!?-H@KD;&J&;1
M`NGCN@P%([/)W_]TSII]:A:W'Q1AN:VC0]K"6F@TE[;V:#,Q/623E=,',QU>
M#@:TU;CD`0X5AO>`!AA'`O%HPH6+VDZDR<4X"D`_AS5@_E_(F[SJ5\]ZA`;Z
MXU?BP`TF;24@M```BC:O>B'=\A;0'N;`9TM0$0D&`A2AD0Q(:E,WHX#-*`,2
M@C)P#(@L#ORP)TUD@E9@$A6MUV"]$PZ0>B2D+JAE:'BU$IQK,!5"S'LHA!,Q
M^WXG6M8,0)'/[(A0Z_D<$W;):0`6^($)_N=^(49XHK`IWY9"9!-*X@`/Y>`:
M$"@W[,-_6,,A[38?3A`)RX).9K5XF:59,\,:&Q%YK5>"MA4!8(:"N>7_(W:&
M4"V86R]H4#%H@C1(@^_R1Y96`#Q0`$"E%B:'>XSF:.JU<CP5?$:H%H(D2$BX
M:357!"O`'&7S<X%"5CQ$'):1*S[D#\80&,D0,PD!#:V00%43"1L0$"%&7?.7
M',(&&<EV*8[55UE#"JIV?SP3=%Q7;YUP/IX0"VTS5P4H$,.1;++"'LW@@(=R
M*!#H&G(3*8U`,]40&M>02E_0:HRQ&/WT6KJQ#L3&*&53-G!`@C48BJ)H4%A@
M!C_`!UOB`TSP`T$P!VW`!$R@!8@$BTPP!G-`!K#H`UG`!S\`B[(H`K1H`+A(
MBU%@!K1HBZ.8C,JX4#A8)>.%`;]72$!@>[FG_WM#&&F&=H1'&%1`4`(#``:=
MAE2'8#9N5XGJPSE/U@\>U`^5$W8#PE8R=@RG$0EJB(9GV$0"F%UPF(;#47^&
M$"CV-X7DLTRC@VN;='33]R97AP_$Q`BK=8`OPQ^D,0BA431<V'V)N(@R`VO:
MQX6A<6I%$T\[)`Z7V"J;I&^P`!N;Z`"?N(PNF5`JJ'%DL`,>,`5S8``Y0).H
MR`0[L`,04`(]T),[8`5SX`<]F0,#,`5"Z0<9X`%"V0->()0[\`,YV9,0$),O
MF96CV(Q5`@`["'-X8'(GEW(JEU,M%XW:^')!A6E9T`);``9F,`1ZL1=#]AN>
MP`XP<$F2<`IP8U<)\?]NQR$-,7`,@#)*,6!U:(B&!^A^P/9^3Y2&=I)AE`*0
M/",H&G9EZ)%@YY$V@=E"F,@(R_204Q-/9.)#WQ%A$'AJB@(A(%@HJ0DMH=&1
MYJ`_D95.T=0J*+,H1T<"&?%-FT@"+:F5)E@"65"<QGF<R)F<RKF<Q6D`SMD&
M.=`%'E`#I;<#TAD%$3`$7=`%0S`'6K"=7:`#<Q``VYD#42`%UMD%7I`!Z=D%
M/4">X/D#'@">=#`'6"F<^,EZ("=R:!E\83F6C;9[*Z=3TZB$::F->$!S2U!4
MU9$;`K@LMP`.Q(9!RY>/"J%8/4>8D8``7P`'9JAL]FA=PD8)+.`YRQ8,?J+_
M6%]0&I1T?_>W6*ZE2:;FF6EC"K?P5!;$1,%TA@<(#8DW#M!B#!:9B%QX;;GB
M&@X(FZYA!.IAFV[G#NV`.;/$30_R34@7'K]9-EZ0GZT7`1"0`V`:IF(ZIF1:
MIF8ZINGYDQ$@!>59`@;@!=LY!1'P`]NY`R)@!]'9!3F0`54`GB&0!.W)!WG:
M!3N`GO3)I8BZ>EPI%WC``3S0GT9HH$AX>^45A.@UH.TEJ0?Z<G%@H&DQ!V#P
M!C/@2#B'$'^H`?("%"Q#;-6"#%5C"/M03TD!HJMUCQ0"HI_3?V&W'Q8@?LTW
M/N(WC^7W!7T(?P41)U6ZHJB0,_I8C^\7(6Q3"8H2_Z0*\("#L85%*BM,FF[B
M,0C:=VN<`T7$T4,3F)F#\QIE4`;G!BS$EA$;T'!V$*_R.J_T6J_V*J]:.5$1
M$`+@V:_^^J\`&[`"NP-#\!)\,)]=0)03@+!\$`%]*IUD$`0(&P!9`*?;.00S
M6:=L,*@>,`3M>06)&K(:MZAQH8,`L*E5@@>V]X,H=P/I!6G8B+)IJ;)8@`4]
M\`8B@`)(`":K`@R.Y3[;L'UW,H^+Y9<4\H?"9EVB5#85D+3;PBC_``E2!ZR4
M<G^*@(>7H1%2`TN"<*,[UQP>(G98\ZS5\!?=`2W(P*1$.JVSP%C;1)+LIFSH
M9X7H=(F-2!],YTWM*K1P`/^O]_JW@!NX@CNX@QL!$6`'4Q``BKNXC-NXCONX
MD-NX5:"+$1`%\.D!W&6H'E`"&0"?>YJQ75`%00"?X6D&X.D!;("P>DH'_<H$
M(ONZ_G8E+<!HD"JS<R&6N7=3NCN@.^5[FFJ[,%<"49`&"TH$*,"SUE&M._0@
MS7<:H?%`9UBK8YM=I=`*;B!LK50,W&<$IS"U+4I@E2D'"ODI8%A+"U0VR\IS
MN#")ZY"N5:@I^6!%C)`,::L`U]I]T^H$Y)(?@H%L'-*T1SNV=)M.R($R]!%K
MO$)LKM$X?4NX#OS`$/S`ACO!%%S!%GS!&#S!\WJX*F@'8P"?.W`%*)BG53`'
M/I#_GEMZ!75ZB@B[`SZ@`^"9`UK0GE7PL-MI!K";P[E%LG#AE07PN\![,8BF
M:+)W7I?*`>SE>T&,H((4!S3'2"B@%ZP9#Z41.,`6O?IX#[^)$`*,:N4AF%0+
MD%K%`%+ELU@C"J]`&@[`3W:%"NEK"MWC37S"*_QU#V<(M^J`#-*`MM7*A6;"
MI"0##Q`B-$<7'L>$"8Z!M)C2;8B#92A##1!RP(C"*(FBP!/JMQ&<R9H<P1SL
MC0/PR:`<RJ(\RJ1<RJ'<!F80E>!Y`EE0`@_K`6V`!7X`GF9@`"",!71:IQ-@
MPR'@`_UJ!:3K`61PGSI<S`7%PV_QC+6[Q-1S>RB77NA%_UXM!\3,_%Z:6@);
MD`!G@`)>``=#!\!C6X"V:ET#4DQNV`EH&PNZ]JM5^[WC=YDIA@`>=@VP(+Y^
M@A"YD'/+RAYE4TMNB*K)YA>7\"O&D+;>L:0`@K:$\1]JR[9^442T:JOWA@^X
M(@X!A0W1`6LA%"W40`[I^AKONLDB/=*%:P<"X`4>D-(JO=(LW=(N_=(LW9XA
MC`418`7I.0018`;I:9YL`)X!$`$6JZ?0"9Y2P*]UF@"J&P!'8)\DW=3X:LRV
MA<QN`0`WP(/5_'(KFVBY>U/7B(W+?-4^94C$N04]L*!H<+P!(`=1X:R2`RX@
M@ICP9S/K:!C+T'R4A`J4M`'G`/\.!*2K%CT:J:`&QI&^&&0T^]`GPK&8]Q!;
M%])S\;B%;%N_U58H?6>ATON%F\E-Y9*N&`B!_,,K2+>)(>W4I$W2$XP%02VP
MJKW:JKT#`6`&)9`'/Y">`1`%M@R>5U`"K$NH5[`&JCL$)URG9J"Z.P`"-)P%
M&ES:RKW<$>QE4MT6+;!>U`S6UNR#6KUHNEN6D<93F4;=1C@492T"9[VS(I*J
MYVPLB:UK0D0/WM$;&.K&SH!E%2%_Y.PG^:"^ZPLB?'(.V.5A,C,;Q_`%ZRS@
M07IJED-8&5JMKDD8`%Q=29O9N@$1V-`_[U0-]%$-Z9JN[1H&]IG!'E[!S"W2
MAVN?N\W_VB9NXC3I!3]@`!%0`AY;GL,\!:>;`0=;GFT@`NFY`WQ0XAZ@TZ>[
M`/V*T\D=XD1>Y"3]W&SAE=GHW2B+!SN%Q(QFQ+Q'H$R^J:"Z!#.`UFI=$7]I
M!,I*#`DDF))0*84@1(LB5;&4.=7%?]KR"(1M.:P9MEB#?OXM*M@0YNSM/MM'
M"X0UF(51*:XA-)1`7>(\O0K!>.K3@._`*-(R0T&3X1E.;!S^X91>Z99^Z9<>
MKR,^Y,NMP8=K``G`L6U@!\%-J$S@RN`Y!$$PJ$@YJ!!@!?WJ!:3;!3X@KX=K
MY+B>ZPX\![)+`2-7Y=3MS%PMY6;)4RX'[&D9`4)05$@@*)OQ_\5BF`SNTW3F
M)$KF@58GFF)C@R!QDF+UB,5TCH_'TBO2H*P"3@R5;`21\VW>D0Y``UJ*8AG1
MBW[@`N%6.`XRY"VPEJZ(HN%E(`?$-A.8/O`$7_"53IS.F?`*O_`,;P#,J9P&
MD`%14`-?VIXYT+`^H+I>4`(^+IUC``+].@4)`)X[D,K]>@7$/>J&J^LLW_+V
M"GMST:@WL.3(#M9A*9;8G5XZOUZ]-XW3DQ8U?R5ZT.(U6U_V)2CLW0^4'!B7
MQ'PBU'7VAJ+$\3)FC%?@$FQ]M2H5T'SGWGSN\P__L""\"AJ"(*01IAZ$_H?S
MYT04C3C@E))E"VL10@W)%"<PT.$&G__W>C_P69"XD?OW@`^Y.:"ZV^D!=+`&
M68#R/MT&;:"Z5M`&P7S;,*ZZ'@#KX.D'-,W!EN[RG-_4*'@E)AOTHK\6/YB[
M.X\!F&KLW3WZE!9422A?6[`%22`&,W`%8;`G)+!\E\3>M;%-?M4YNQ%8;L#E
M%&2BX?R8:84.8>X^UW(IN*(/#VAXA*P>=-Y+K.5^VGY#J(#[A%!JR,(?:;X*
M=[_WY%_^'\X$)Y[^Z;\#7M"P:P`!_9H#;-"Y/IT!;%JG0S##X#D%50`(.UV#
M7EZ#@R(1BHN,C8Z/D)&*=I25EI>8F9J;G)V>E!%Q?Z.DI:48-Z:JJZRMKJ^P
ML;*SM*9`!0#_'!BH/!04-[L<``4%0+7'R,G*HWAXS*1Q05M)8D4K9V=?7QL*
M)!8J"!KBXQH5YN;B%2H.,#1J[VH:\2IJ+/7W^/#E\146#@K;%"@P0D(@"2[Z
M*FA`P!"!$146C!B),=`(`B<6+-1CP1'>NWT?SXGLMVW#!CC=8*APPK*A0G+I
MN,R11+.FS9LX(079P;.GSY]`@PK]Z2&`%2PE#/CP<*B+ARA8Z!S:,2$!TT$Y
M!`0XY(',U2X[AGS=$26GV;-HT]K\U&F.*%@M>`!81K>NW;NT\`#9BTL7C[^]
M>&`01JP%$&=X$RN.U>Q/,SQQ9D8H@<5&D2)PY'#9S%!DN70(/-H+_ZV&X3M[
M]N#9T^#&`8(*KTF4,<)-`3<2!&'("UD.-@(5#YT841!#HA&63BILS#=N^<AS
M1KXP@$.=^H;?+,$Q5(%N7`48DM6*'Y^3C9;SZ-.K7\^^/7H^&4I,]I%#T*$<
M;8*XL+_#2I8<4S'A0U,0#-%4`!`TE0-Y##;H8(-OP:)+"XM5:.&%>3D#1`O$
MY')#+Q3\!0P&PQB#X8DHFD+9&E&,D<82,Z`0AAPP**3<:6K0HT8%;K!@A!OW
MI"9/!21LX$!K)("C0D$"$62$'*_!8TX\#6%D1$3$*1#1E1<%R4\\NZ66D#D(
M:%-==1LP0`)#3FC7T&OG@/?@G`]FL,:=>/_FJ>>>?/;)(ADB0."%?5-!D$$;
M`!XB10:&'%)%#8DZ5<-770P1Z0Y,T*GIIIPJHD<L!<B5XJBDHMC8*!P"D`LO
M(?(P(F'%['5JJ;3B%0<68"SQQ@QHS(`$%')L((<"`2#D$3PP;$!":PX(RQ`)
M7RC@P)IJP$"".Y^]4Z65P@T7T;?<<;3:E,L)"9L*9:B@PA=G5A?&29D=*\ZQ
M,G5J+T[_-:7OOOSVZV^_`?!1@AF4&BH55WPT"I85(33E@12$!C#`O117G%.$
MK@"!"F*U=NRQ79^JDJHN-WSHBZN#J4J,B1^WC!<6/2PA`A$H0!&`''+`,1T,
MT\(`YS86&`L;.C?_4LDF1L"]`UM&$>G(SXWB4@F1/T8X\`^\UK5;G;$[>B2/
MG!:'S4@)5_QK]MEF[Q!``@;P406A.YRPQA"$>L#&%81Z\0.A74P1:1=6B"WX
MX(K(4@`%!;BL^.++G*I7"Y"O^B%@(J9<`.2&,:YY+3-E40)E46Q1#<UPS!#&
M9C2P,_1N'S&TD$2AH2:E0N.6@]I"&54M$0F\GX0U'/!N\"[P81S4]4=?AT=X
MQ7S\C?;S_^8@!1L&&"!64_V5$`+<5I`!MP];W;>`@GPL;_Z]<\0"!`<WL+SY
M^_`?`SDNDOL28LF[J-H"Q_'W+PL6N&K#&'0E`AV@``DW8\<[5.`&>:0&_S51
MVY$X8J<.IDW+-LHJB-:HXP4TF>0D<KB1/))W/HOY``4H&$(*4:C"%J[0A3!\
MH0QA.(4$#``+:[C`V_3EA1I,('R#Z(]7IF*%'09Q"I3*5`F72">,M0(`/$B<
M_Z9(Q5ELJ"\D,YFK@,$!80S#,++B7Q7'6(HX9`$+:7C#&]"`!A3^"F>::4?K
MIE8&G]'`'#`H0[/.9!+B%6D#'81#\02)K<^`C8F<^EP>!L#(1CKRD9",I"3;
MH`4?3"$`?!O$PPSP`TIA2@M_JP(3]%4%('8A!UA`I"K)DSY8X`$5<1`C&6<Y
M1OZ%[`_TR^)?3A:,813&?4ZDI3!)48(,B*X(:/]``@)OAC,8<.%WP%.6\`09
M/&F>3FD(J-<JY_2YS['!`T,)ISB#TJ\=5*$-;<`D]J9`L`-Y3T%5P%X"MDE/
MM`1S%2VXP5R&R<]^,L,9>MG0R'A!.1%U\8M@E*4_AZF'"-@A*27PG`$`N`4P
M\.$R19C!&8@@R#!0)PP,"$,%:*`";=:3/-WLYL&@Q])_>>`*;5@#'3+I`1]T
M4D%+P9X$_N8%^4SF<R<-ZB/L<$M7Z$*A"TWJ0N>72U:=#'^6HY!2I_J'>XXB
M#I\#(!:$((8E+$%Y0DU+-R<3!>>UE*4[R$$5S#``,E2!4H,(`!GPIB`SF'('
M=/B;W7P:UKXRPJJFB,O_/JE*6*H&="^I6A4J)G>_8'CQ<E(MK&0?FM+*6A:H
M?G6$?.P:@,YZ]K.@#:UH0>N%$`Q!!&2H`1F8X`6X.H4."3`B5EC+PT$1$;.9
M]2M@28$'#O`@LI(-[E0!JB&F8G$7)4LN5`]*#,@>1KBS_.EEITO=ZE97;"G-
M@':WR]WN>O>[W+T3&PY0A1R`DU\[\((6;GJ@!#@O`"L=1!60PM?<"K65KPC5
M8*'+W_Z20J`<PF+)3D:Y5WUQ+V$LJG]I)5WK.OC!$(ZPA"UK@/V,\\)`.5MZ
MM6!7?>%U;_H*0#P/9("QVC>LNR6%;X&[X!8O^%17I)_D3-8JJ*8,`)!S,8H:
M_SSA'OOXQP^.@BG/2F2U^H`)ZG38%62+%=MR90(I/7$]^0JJ&W!`QUC.<BD"
MBKD`JZJ+NUCLY%#F6%7Y<G]:K@6/@<SF-@,94D1NJ0=RX`4K,&$*3IZ*4?(<
MU^TYS`QN#C1NI:Q91:1X%.QC<9H7S>@_Q%C&8$:N<H$QHL$\MKF0V\NBURSH
M3GO:LE[!L*AY4I0A^(`,;)!`DO7E@2G0S<,!\`/?=@#H3]OZQXB,13ZOW.A>
M^_H5B`UPAW3AU`(GMY<(1?!A9J543M_ZV6X.@@V.(`!J6[O:V*8V.K?-[6Y/
M@`T^*&)K_>6!(?AM7SL(P9!W0`9HN_O=G\:O46^@Z/]?VSO+A_[#'&2)!V%_
MF=@$M9^(*FUIE5W.?6-T-KP7#F%&>>#A$(^XQ"=.\9Y$KT"KYHH?G%=3AGO\
MXQ$^]!RLC-1[F_SDJQ`CE[O<H5Q$6M)C'GB8N^A%@T.VWJ-2.,AWGM(?QEG.
M"!H"GX.8`S_`M>,\3WK2(P"J**+\Z5!OW"H$VEQ(O[QD`Y\TP2U=<U]>[N:9
MUC0R=*[TG0]@R#]'KUIQ(`6S!M$/"KM/`LI.]X\?>GT80'C4]\[W$_6[Y2X/
M,\PI)_"L#\:Q7:]ZE_E']KI_G`F9)/(.YNP'%.#@"5(8.O:J,'2\TM?QH'\V
MTV%Q.)SW_?2H]QAB^FU<,[O_'.!BCKG]?M'XT,,["V/PP16&P/O>^_[WP%<A
M!#@?`/.ZM!"N]<`/\F#[YL?;E>S3>^JG3_V./>8Q^R;%'!#,<@X)FQBU=[Z[
M,R`%<([:)]`KBA?,FMYVB__];CYT`:Q<_?K;WY_AA_^SR8#VM.N+SD;'+Q[`
M!)ZC?P;88Z/G"G@`1:9W?P[X@)J3?P?8:9Z3!VX5>7'F`8706I&G-A<0!`4X
M@2+H8(>V:Q!X@BBX.1(X@IVV!CX0@"TU>3DP@^MG?.CF!4S0!BRX@]<5"P!P
M`U*4@D(XA`S&@SR7`$)7?#.XA$P(6CG@61@(%AK(!$%@A%9H6780"\!0<D38
MA5YH_Q<K>(42%H*590!D0`<!0''G]3Q%807Q(89P^#EWASA?6(=V>!=A&(=M
ME@5!T`8Z5'Q1B#U/6`56`!\&0(9Z:(01H&"E\"F]E7=<>(>2.(FJD(>)Z&-9
MD(F:F`%\X`-FP`2[5P6B6`4+(`4Z(`(^P`8#D(F?PXJ7:(7RQ@KYM%^46(NV
M:`J6^(H0IHF:V(H1Y3FN^(N_V(O"B(BZ*(*'!@`4$(NWV(R4F(O'Z&"L6(#$
MV(J]R(O66(S!&(T&F("M\$H8X(SB:(O0N(/3N(T3=H[J&%'=I([`F%+&R(WB
M)W^B,H[V>(?E:([O*(_\^&F'MC'W&)!?F(\C"(SQV(\(Z?]CWL@*0,`#O":0
M$"F$!"F"6:`9*)"0&,EFA\8^01B1'OF`$<"+(HF->I@%'!$`&9F28U@"KD1R
M'_F2#AB2(SF3-%F3-GF3.%F-/7:2!ZF2/IE2S*@*A].1,%F4J2>3.9F42KF4
M3'F3)SF,Z/B3/OF/>6>45GF439F56KF5-LF37/F522F5"Y>)"XE/]7B5:+EW
M2`F6;-F67<D"*.F6<CF742F6[9@%6?@*#)B6?`EU:TF7@*F)ASB2@UF37JF4
MA4F8B"F8;@F5-YF8@:F49><Y5-F7EGER?QF9@-D#G+D&U4.8!A`%/=`&A_B4
MA7F(HAD%-FD`G-D#:T"3G!D%B3G_F!E0`V;P`TP@(&V0B9#9!D?V`SXP`8<X
M`%6QFX<B``-@`!.0FV0`@EEPB`)P9$P@`A/@G)IYG6S)DOD%A)%XF=[98HZ)
MG5]I`!F`!#0@+AQ!`VB0`;S8`^89-5S`DX?(FDBP$?:``NSYF5GP!G)@G_;0
M`[S)G_9)`RBPFYIH!>8'%F!A3J^IB5&P/?Q!:CTA`EA@!3SA!3,E"#DP`9G(
M!Q`J"#R1`V8PGY`IGB9ZDWDY;]+WG2SJ8N%YHEH9!?&)GN*"!)J(!>=)H^(2
MEUF@!3E*HP&`!9J(`CK*$0!J`&A0I"Q``VEPH%'H!9JX!FZG+R(0!`:RH/?!
MH60PI3L@_P$P^J4X60*'1G\M6J99]J)@NI11@#-(@`8B(`)0("[5@P5(D)Y(
M@$)0D*,!D(D],*-<<*?UR1%O\)QO("Y<@$('%`">6:@<<:@UDZ-<L)L&<`!1
MN`,"\)Q3H&%,8#W\D@/)V7]3H05I.JHBJ9VNH%]FFJHN6CVLVJJN2JHB.5$]
M$`5YP*I!(`=&:@!+<)XT0*'5DP%IP!%RD!1)R@)<D`;S*0(<`06'&*<L``5"
M<$83]9H9X*Q0<*18L*L<@0;5XP->($ID`"A706M9,`"-8D[A:D1>8`9:,`!6
MJB!T4`5T4`)L0"@A8`9S]155`*NP6I:J,"&J&K#]E12N6K`&>_^P")NP"KNP
MGTFG1IH%Q<JLO&@`)UD]SBH"S\FJO,J:O#H&A*FM:M`#KEJL<E`]08`%GTF>
M"F,&/9HH.7`$U=,\<74$F?BNA`"S6!`$!I"I6"&;U7.E8*&?_/JE*=:0#RFP
M2%M8!,NP3-NT3LNP=<H"0F``4<NMKFJ:N,H"39JR\4D#!B`"]0`%>3"QU<.H
M)7N:0G">7("R&6L``U`#!)`H.W`!6?!.I^2962!DFB2J?`BT4Z"?!K!2=-"V
M/D`H!CJT,&JJK3"42=NXA+6T3QNYDINP&2`"!P0%><H14^NL;U"P%6L`,WHL
M&^&UQ8H"!UNL2%"P:\"KLAD$/\"!/-'_%"-JMYYZB.FTMR;KMZV*!2/6-RD+
M9X/`!R6*N)KIKZ:P"ROJN,H[2Y`[N<X[N1F``ESPH^BYN8):JZUZDB@[HTI*
MNAR!`MCKJD3*`FB`LJ[:M2)+!ZX51!=@`&R0*%U1/4-T2M1C`#;KNZR:`4#T
M!*VZI8=0`Y-+O%J98H*UO`;<3\W[O`K<M"BP'#2P&1MAO2S0N5<+ER46GVJ`
M`FRTP6PD`DCZO0<[OD10L'F`O@)0-T\XKNV;`;V;`U-@!4#D!\EIO[J;OWYP
M"'_+JOX["/6[P#Z\P(_)BK"PEP=<Q,S[PTB\L#F*!#Z;!0&@N0;`N>%;/=H+
MNO]9/=@;OJA[_[#*^JSFRZI1P*MK,#Y809J,PK[=ZB\[X,&YB\.M&@2].P2M
M:A6'`+-)?,=X;`#&6PI'9<1^7$4)G,=)W*CAFP?..K7C:[79:\$&\,0LL`0(
M^P;GJ:@DS*A<4+!+4`]<$`0*<P6_JC#M:[\)@FXNH+-M/`@YS*I6<`@!D`&J
M/!6F+,BR_+P$#(1_?,O^$\BSO,#".L51RP=YT,6M_,95/+YR,,6M*J/V0,&N
M.@88S,SV&[7,JC!>(`"^*;>AS,)!]'!/R`2N;*LUS*H)P!]64`/@%BD!@,R[
MO,X+FP5#3&^X',_OH\OL/+GI.09K,`!M@`8S"LQ+@,$%*IIP^KEOL/\1*"`$
M41`%`B0";5"KSLH%;]`&"MT#8Q`$>1"U$)W00C"^:N#!0-L%G<4WH3P@<74!
M'5`#[NJJ]YO*)GLI<P8W(UK/,JVP>TP*NR#/.,TX]#S339L'6:L&-$"]+#`&
M!I`'Q6H/0CVL>1`$XYN>IS'!U9.V4>,.N=H#/PK4Z(D$GCD`@3BWU8,"7-&$
M=,`&%DW#;NRJ[=0O?A#+/-W6K%JT9YG3<MTQ.^W6"YL&60N?'"&\$^7(Z#F]
MC$R>*"#4U[O46L"]U6N_0H#8Z0D%M%K43/`W:H/&>2`%+C4%M;K2A6R_X+,O
M'@`!,VS7;IT%C&@*/TB4<YW:*5+7HGVP>9#_!QM],P&`!`PM`FBP!J]M`&L@
M`@@D!VTJ!%J`!M`<!$M0,S@#!1K<T-@;!;PMVW?JF=7#W+V-W&]@T;6ZU&0P
M!'[@!Q#P`P(@`M-Y!+5:`X%X2JW+!KDI`GS`UM=]!TPP!"'@!W2@`V2`Q:W=
MUHJ;<LBKVOP]*JQ]WR2<!SAT)RB;VUA\W0,>R]=]X!9M)W>BX$5=U`.^!AG`
MUA*.)SIKW6_\X&4=X4L]2G&%`A"``C/UOZY:R-@;!#J[U'92X:RJS@`NRWD0
ME*50P/U]XQC"ARJ^XSS>XSZ^XZ\=Y$(^Y$1>Y#%^W_/K!0-PW7D`M`=PY%"N
ML+4ZQ!20O#A^Y<N@_^,_ON5<WN5>_N5@_N-%/N9D'N0\3=(@39I+/2DF'N5N
M?N)C"PM;B.5TCA=:'N9XGN=ZON=\WN=?7N9!CN9J$P*<]Q4>P-=OGNBU6M-_
M8.-U_NA9[N>2/NF47NF6[N-L_B]5D`&`WNE#GNAXG&)$#.FD?@QW?NFHGNJJ
MKNH7L+Y@00>TNNJ5[NFT#N/.Z\X*V,>EONNS<.JR_NO`'NQ=/@$RH(0S:!0U
M(.S*ONP\GM\BHT^\'NVQX.O,7NW6CNI+?>W:+NL&0..D\(,-*.W23NW;7N[F
MGN<Y>^[JON=9D&+LTYWBONODON[T7N[I7N_XCN?.K@ID&N_^7@KSGN\"/__P
M!&_NWHXJ3O?O"O\'`5_P#O_P$(_J!N#N\+SP_][P$9_Q&K_Q7M[NKC!R'`#O
M%D_G&,_Q)G_R&;_O-9[P(Q_O)8_R,!_S^'[P?Z",5M[RC_[R,K_S/&_M!@`+
M-XWS+M_S1%_TYH[KK>#H0A_M.F_T3O_TDL[HH[[TO-[T4'_U6/_E!]];-R#R
M5-_?5I_U8C_V.@ML<N'U7Z_:]DOV;-_V6Z[RI%!Z:1_M:^_V=N_VC!Y]:#_W
M<EWW=[_L&0`&9O;WU=[MKQ#T?%_J?K_M&?!Z8%#A7`X&Q'9LP@#Y89X!-,<!
M7M[X-`<`6[#G($(!EA_F`_!ZE;_YK^?Y>.[XH^__XX+?^:U?[@90VJ4017N?
M^#B]^-?>^+.G^5N^!1@0^K/G"_H4^V+.`0+'Y8U_`\-O9<;/Y:&?YYC/_,T/
M`,:__,/OD,_/XQE`_13@^S\^`+Y5_>L.]PA_\[C/W[IO[1D@_!R0[3VNC,,_
M_[Z``0.P_2J^!;/'`\\/"!P4@X2$&$&(B8J+03R$C)"(6XZ%E8>,@I6&&9&)
MF8,<G(P9-YJ$`**=JJNLB79_L+&R?QPWL[>XN;J[O+V^O\#!PL/$Q<;'R,G*
MR\S-SKP&K=+3BQB5'*,`IML4-ZFCI(4\D!G:W!38TI04TAG6Y^B*Y?#IY&#7
MD>_;/&#4_M)Q=N&YP>&9_\&#"!,J7,BPH<.'$'=%^T<QDKE"'/(LNJ?I!@8.
M^@K=Z`1FW2`>WQ*9)%BJT!9UCUI].@E2TS>3/&J)ZP?I(J%0C'Q2P(#!)(:4
M%2L:"*BK!8\"$:-*G4JUJM6K6(]-3,IUDB:@B3*8'-HO@]D,',8"&)56T[A%
M>7S>V&(V9+U5ZUKE:3GH$">OIQ#-(S0WB#N,BS*`"?ESE%U$)5URG5Q"8`$*
M0+)JWLRYL^?/H+=._G?XZS>AH<S*XTCX]%A"*!.'1"58)%)(>5NM*YS()UB^
M%&@'D9MJP,QK2'>_1#03[.A_<WAAL`6ZNO7KV+-KUR7Z>;OCC</BO&U6Z%K!
MP/\KO95G<D!8OOQTQURUI=`EP?7#BRWDWG"X^8J=<Y=AK`T5EES>4<14+GCP
M`,!V$$8HX804'M1=@JOLUQ=&J>1WRFV"F>0<?)&=E-(`XGPS&XB*Y-;*%F``
M`,8W!0*50275%#*C83YAX%M*S74H#H;4&,!+`4]5J.223#:IY(5$DJ//#;X=
M6$E_D936ERC_<3#C.NL)5F"86L;#BHNLG/5-F6L%")L\CQ%(TP!5PHE86#A&
MJ<I9E>T"``^9.2GHH(062I4!:B:J)R(^;?&C)T.N,I,WB7A$EUE@ID2<(D&>
M.5]%!5)`5Q!C+M+I<#F)\J@BP`F'B$DL1JEF!+L`093_H;CFJNNNR"":Z*_`
M!BMLHC4.!HJ:D\;JYDG+^2?>FV$9VXTB:S0GWR!)9;`%<)=(.U)8,W5[EG]U
M"K97(>>%*-FBY""R("Y./<CKO/36.Z^OP^:K[Z]3EL?A6>'NNY.PF<JS*:2;
M>(IM1?^=M.-PMG%J'WFKHH>N:J^NRRXD1NYR60OVABSRR$_N:_*^G_#C[T]G
M53MQOAY2H'*PF29*7,L!Z[O.R8D"QO)9!QL6+CG2WI7!N1\^2TBS&X<51)\,
MUH('R517;;5G^/*L]5DQIU8TLK;E.^:EP-:LYLT`8[2&SH1LK=A87J\\B#=@
M;Q+LCQ@W'!S&C6C<M&`9T*H+_QZW7FWXX8@_E+7;//-%M]SHG$5GBODF2S!L
MOXH1]EEV[;NSUB7^+/F8:KHL^J]XJ]EJHNTQ?G)B0;Q[2PM4)F[[[;@KL[CK
M^H8*3^2ASJ@F&`.H_C+-F!-+.>=JLST(Z'`#2[J:G=_=//77FU4)[XPOM8M3
M(.<N_OCDY[([]\+Z3D\&*/[+?DD\8##C&LA=;F+/R]=UL?,4\!SZL<!J7]NP
M1PCA`2MU9C&.^[25/_29+`N\J$7Y)DA!\9W/@;]2GX#,`IR9:8D@QS%@V9*7
MJ$J0K6'\*%Z^/K>O`:2'`VM#WM*,-T#K_22&0+./"KV%09X)3A<$J:`0AWBU
M"_;P+/\:Y$9J0G4#X:7'$BLD(0$'@8H$;BZ*SS,98ZHHK-5E``N::TVP[H#`
M!"HG;:<[XK!D-PL@.(B(<(QCO8RHQ@&`X8YXQ&-S[DBV)W*@>&!XXB!$.,+[
MV4PD*JP>_TPF%!!RX)&0%$,."9/(!:(N>\S[V?].J$9AL5$62(**'$=)2D+1
ML8X#2*4J4^F;'9K%9^+@P6LBAT69!7`ETZD$(>W7/WVY\'<`+!XN.[C+LY#1
MDNP3"E&,TDE]=4P7?YI:*:=)30J=LIF7_(DKRS-+;MQ`DL,"TS8A9PH8FHR%
MPTJB)HZ"1B7FRS<XE!QCU`-.;`8+:KDH7#7WR<_K7-.>9CG_9AK9-X!M`5,D
M7$S4`,RFIE2"QV[GK*&P!C!/=YIE#:8S!3N%)5``_NJ7VT@H0!/UPUP$IY\H
M32EG_CE2>`H+`!65&7@P,$Y,P::F9A'#6'*R!IP6LI?Y$N0V,!#/<NP4ACZ%
MW!^%!9XFCM23'J-`^%1*U:I&A:7V3.46MKH%GZIR"V(``"1EE,K%%**>O^+J
M5O4EAK$F589`'99:YTK7KGXT`VU])`#>FL""<O6M8,BKE_B*S2#PXD^!LJIB
M%YL0K#Y5:ZKLZ0ZWT):-8E"RA&6=1)^*V:QB-)6/!=8S<0$$D$B3L:A-K3*"
ML,K0<K9:Q72M9K,HV]K6MGCXG%T0_U7+V]X.@[6K#*YPATO<XAJWN*Y3I6WA
MNMSFNK:DM[A,8GU+W>KB`KC'S:YVM\O=[GJ7NY!%IW/'V\G8^8D'UDVO>F&!
MW>^Z][WPC:]\A[N.^1*7O.,=+2XDN-[^^K:]]@VP@`<<WS74E\`(QJ_6(*@+
M6Q7$OQ!.+8`13.$*6SB5![ZPAC=\WX^F$KJS*$#M(DQBQ4Z8PRA.L78A^4<5
MN_C%&8@.-&\PU1+;&*4G?K&.=7R''?MXP^;5!7]O3&1^YOC'2$ZRDI>L70/H
M81?Z++*42WED)EOYREA^<6[;..(I>UF.5<ZRF,=,9ON"&)0W$.67USS$,)?Y
MS7".,W$_&?\+`-#XM&S.,_G<+.<^^UG,&:`S+$"BYT*7C\]_3K2B?ZS?6U`)
MSX:.-.(0O>A*6WK#6Y[%227-Z4E?^M.@=O&98]$"J7;ZU%>C=*A7S6KO"OH/
M=JXQJF=M+U6W^M:X%FX&(HB!Z=+ZU[RR=:Z'?6O#-N4CP$[VO(1-[&:#FL&Y
M<(J:E4WM0C';V=A>=*9C(=UJ>YM0U\ZVN.4<X_-"^MOHIE"XQ\UN,@=Z<(1.
MM[PKM.YVV_O*0<;%0#AP[GG[^SKUOK?`D]QH-,OKWPC'3L`'SG`=;QL6=IYV
MPB?NF84W_.(H'O6@;]!OBGO\*A;'N,@K7&XA8Z#C'T^Y5$(^\I;_"SC?N-BM
MRF=>%9:[_.;Q]5XNW'APFOL\(C;'N="]^_`_A/+G2(=(T(?.].QJ'-8T3KK4
M&1*$*%C]ZEC/NM6;SG7W6EW0>##MU,>.D*IK_>QH3[O:L=YUC$=A``+Y",K)
M3O=BF'WM>,^[WO?.=[ZWW<>[;O`;ZT[XU?;]\(A/O.(7S_B]C[S@I*:`Q`M/
M>6%DH`Z8S[SF-\]YSC?^\Z`/O>A'S_@?1Z'H2))UY5?OB\MW_O6PC[WL9T][
MV9/^]KC//>F_^_18L_[WOW!][8=/_.(;__C(K[WNE\]\Q\LXGR<'OO1W(?SD
M6__ZV,]^\:VN_>[7H?FA'X"@@2#SZ9M?_Q;5][[ZU\_^]KM?\U'P_AWN@/VT
M!S[:73Z__M/__O[[__\`&(#L9VRYD'KZ=X!_P'\"N(`,V(`.&(!%%TT(N'\/
M6($6>($8B'Q/-V03.'T*F($@&((BR("O%F4="'P?.((JN((LB'WBMPOE=X*_
MEX(M6(,V>(.=]V[XUW,RR'HTB(-`&(0J2("X(&*3UX.4]X-"N(1,*(`"\(28
M1X2S@`>^AX0S^(18F(5:N(5<V(50V(1@&(::EX5U`&W[11U6Z(->N(9LV(9N
MN(9B&(<+"(4"$`5/9X)I6'@9\(9\V(=^^(>`&(B"V(5RV'X#\'PQ]V!Y6'E[
M.(B.^(B0&(F2./^)A5@'`E`'+Z@+@[>(23B)GOB)H!B*HCB*?'A\3ZB#\)(D
MG-B)I-B*KOB*L!B+D@AS(19UJZB'LIB+NKB+O/B*D#=H&*!ZMSAUC=B+QGB,
MR)B,;%AT8C>,=5>,RAB-TCB-L%@'&N=@SDAXT$B-W-B-WBB(;5`'B#@+M,.#
MV2AUV_B-ZKB.[*B%4?`]JGB.8Y>.[5B/]CB-<*<+'R./9$>/]_B/`)F+;2``
M4C@+B,6/\QB0"KF0LM@&OT@+-^!K".ES_LB0%GF1C]@&18>'$TES%8F1(!F2
M?*AQA*.('?ES'RF2*KF29#B.LE".)YET*<F2-!F2F5B$:1:32#>3-=G_DPR9
MCP7(`RTP=SJ)<#SIDTCYC_=W"U3(`T19E/]VE$DYE>Q8D++`@5"9<E))E5S9
MC69X"_&6E2JWE5U9EM%XAR8IEAY'EF;9EL8(=OFGEA3'EFY9E[DH:#`IEQ]'
MEW;9EZUXDU-HA'JYEWY9F,J(BK=0A8,Y<7QIF(XIB4L)EA&YF'/YF):IBU89
M"QQ)F?+6F)?YF7_XD,C&F0GGF8/(!32`A60@!VK``FK`!62@A:PYD`(P`:Q)
M`TB`A2)``S[@`ZRI!@$0FP)P!33PFL+YA$B@!B*`A4A``S0@!Z`)BU\Y"S%(
MFIV9BT<`!:[YA+O)`L])`RS``LLI`'P0`.%I_P,"D)TL@)KB*0`V@`0LT`;@
MR9[020:NR04L(`<3@)SA.9XZX)W@&0#1Z8I/MXG6.6^F"8@B$)XL\(1RL)YD
MT`9:\*!<(`!D@)_A^81D`)YL@`+YV08V(`>\Z9U'H`6MV0;P"07R*9XV8)[A
MR01/B)\Z8)\L<`0#^HDV@)Y/2)*2=Z!1F:-`&J1".J1$6J1#6@-JH`;%:0-M
MT)JQB9Y:$)YFL*#$V:`"\)\T8`,+J@862@,">@1LD)[;B9]7<`0/FILL``4/
M.I[A60--R@(^<*.@:*-1X)+<%H\^FFX98*1\VJ=]:IX^`)[N&9Y'$*3AJ0-L
ML)_@F:,>R@5'8`:M>?\$_XD&0"H`^"F@X*D#`O"@4"``6K"IXGD$-&JCX"D"
M-BJGDW@$1P"8!FF+>:JG?AJKLOJ>:7H$2WH$YUFI+YJCMLH"C+J>6MJ:-@`%
M:@"DJPFAO:JI9YJCH,H$HGJ>O2H"LQJK<JJC-H"8LP`2POBJRC8`JOJMX!JN
MXCJNX5JD^,D%&`J;K6D&DLH$-/H&0+JH-H"E6NJ:9NJH-E`#%)H`[DFF9LH"
M2`"DYNFL$Q">6F`#ZUJHT[JPTUJN#&NDU!BDM"@+'R&1W-JMY)JQ&KNQ1]`&
M(NJ<X4D#$^J=-8"?K>FHWPJ>JIH`X#D!'BH'1Z`&4*"J#TH#X*J=4,`'I9K_
MHQ[+HC:`GTS@`[GZL$1;M$9[M$C+I^YI`P]9G1>+L1P;M5(+KBHKJN#IG0R*
M`E1;HZJJG<7)`F\@M%J[H`Q*J#40LOD)K@_JK)**MC.KL4D;MW([MT>KJC9P
M!-,9"^1GCD^;;-XZM8#+L0$`LZI*!DB`KEP0`*VIM4=0GH1;HE"`KEK;G#YP
M!"C`!7*`N9BKJCJ0N<$)KI=;N:IZN5P`!1,0N*B;NE%+MZP[JZHJ``\7+WW[
M;7^KNK:KJFU`KFW@`Y\;M63@`Z=KHZ_;L;=;O,9[O,AKO`S[K0*@<:5VA+-+
M:[6;O-1;O=9[O=B;O=IKHW8*"Z6VK=&+:M.[O>1;_[[F>[[HF[I1(&C=%KY0
MF[[P&[_R.[_7^XXS9K'N>VKC2[_\V[_^^[_?N@:[`!+XF[^<MK_:2P8H@`0,
MW,!D8+LB@`2BB[P1W,!(H`/!.ZX1;*H`W,'%FYFP('<&#&P(G+TBT)IE&ZJJ
MJYV,B[SPF<)JP`;DBK,9[,$V#+A-"P!/.<)Y5L+82[8ZP`1!S`0R+*HB\,#@
MR@=FD`3?^KO?Z@,S"JY.#*X^@,14;`9%#*[PR05!K`/@6::J:@9(/`$X^\0)
M$*YD(`(U`*XU8`837+AO?,/I^W![R\._YL/7>\)<JZI\`*904)S/>;H!@+EJ
MP,!<T)QJ(`</?+DZ<`2#C/_(<B##JZFDD1L`?.";2<H%*%##6YR[C@RP1^`#
M7*"DEJR>IHO)7KH$8"JB2HH$,HP"Q9G(E<L&`5"<<A#'<ER^SIN3=CQK>&R]
M9.N<SNFH'DH#?\P"C6RR7'`%#PJ<X(D$ZJFU^.FEF?JOB7NR?,"IQ,H"5JR>
MN(D$VLD"6'RI^&FZ98R?F9NV6[S-.B"TN/F@,*N=F.N=-9S+Y*MQ1]?+XHN^
M>ERV-AO*-2`"^`G-^"D"??R@:,`':%"K+'P$!7T$\"G!K<D'?-"H#KV>4,"V
M6IS"7&"J5[">?,`&^&G*"0#2%ZVJ(L`&7LP"*+"E<H`$9,`'9\L"8Z">&FW/
MVRO_`-T+:T*IS_M\OF0KKF_0S,]\T3+<L\[ZGS/;T/CYP!'-!"3:MH[:G>$)
MFQO=T36[QB]<MF2`LQZ:PCY@!B:[N&1<ME!`MF4+QCB=TX)VD#[=:;]<O7HL
MKN8)!6:0HA?=Q_^:U&E:UM(,IQ`-L#[0FJ^\GA,`Q5=PS-#\K5L,IN`)L\7,
M!$R``HB*LV;@G4P@`BAP!2*=IK[)TFP@`E>`!`\JGH>JV2C0S6N-O>L+3>CU
MUG#-SZT)!;1-VT.=I@)=JR/=L6O;MDO-TA?MU`";S1A]LAO*TB+PH"T<V"C[
MG\A\W*/MFF6=L^")`AZJ!C$+L#JPN!_=T5#-`EI0SLZ-_\NK7;VL&@MAAX:P
M'6EQ3;W]7+9!S*#G>M'!N[9\H-1^/0'X6;D1;;7A:9Y<,`'OS05ZK:I;G)Z!
MK09:X-SA6;DTO-WAJ09ERN"<^LD,VLC''9Z+7=[9&YFR8"L8L-X'C+YL\+N]
MV9L)(,-:P`0),`$)\,!D<,:JJ@4)P,1LD`!K7`-D(,ED<+HUD.(0?=8NF[9'
M(.`L+JXZK@7?R@9+`.2AG=)%7@,^L,9@*@)0WKAI'-,XCN56SL2J*N!'S.';
MZ^%Z.YHB;FCM+>;A6K,BBLP%/K7UO+%Q3JYSKN;:"\)[N\-G;F-I;N<SGKDT
M<,A^/NC%.P%Y"PL\M^=H3NB`6__GC/[H&LL'$[#+T*OH4C8`$Y#IFK[IG-[I
MGO[IH`[IHG[#DMZ]>""8EM[#H+[JK-[J`L[`!.OJG*[`2"`"CFZ^2:`#2-#2
M&DL&.F"J9J`#,C[JU)OI;>VJJ?YEF"[KS,[J(RO?-=#LF7ZU^BGMUL[J"8"A
MX5GMF1ZN%GVFQ'Z]@Z.8R>YERW[MZ&Z>:J`#*##;TDZC.R[IZ#[OFS[-3/#"
M*"#OG-ZHQ)VS]'[MY;V?`]QKY;YFY_[OLDZV/2[@-+#)$[":DCL!?,`$7#`#
M@ZS(GYV?&!RYAYSI.K#,Z'K)Z*K(F2X'<D"Z#N^R(Q_M$X^N`0"\FXZE29#I
ML(S!8S#_R)AKZ_Q^I@C?\_.>TU`6X@6O[#XOZXWJZ9"ZGNY^W>S)!6]PM6J`
M!C7[S!/PPJ\YV*_IFCT>LAAJ!E4/H"2[W5E/`YQNGG*@[YH.X"9;T2#-\T7_
M]G"/[O8+?4-/]'$/ZO+<Z<2-!'Q`HV;`[T++`H<=GI<LW1-`V%L<TBS,]DA0
ML.)9GBQP!?!>GEP@RG#:`^9IZ]U>SGI/!*9[W$-.X&Y_]Z1?^IY.YIJ9EG5_
M8P=O^IF^Q9L>[8</IYF.G];=UX[OXH3OW"`KGBDZ[:[YM98<GHG*PE"M!O).
MT>`9R[A?\ODI[VR0J`_/F@P:^GOO^MAO^@(,1*J_^B76^J[O_]S2OZ!GWYJ:
M3Z8>:KIL0/B!/P%8:MW6;;@`6_MI"O\I'9Z9SL);FNE6#@A\-"PHA2@B$XE\
M*"PTB4=(+%!D@T@B7"P3C%Q\<BQ(B:&BHZ2EIJ>HJ:JKK!,9?["QLCP`LK:W
MN+FZN[R]OK_`P<+#Q,7&Q\C)RLO,S<[/?P.MTZ=)GEQ7*(-0$Y%<(HQJ9(S<
M$RPL;`GG?&3G.DPT7-V?B9$!9E#8YN@34(0/:@C!8R$B@"0?<KB8&35(C@XD
M`76(8"%.1T!-+#AY`D6MH\>/($\%V44+FLF3*%.J7,FRI<N7,(]%">F1#*9S
M&1-IN>D.(S<VZWR<JX>3T#R.-0:=$_\'-%,_HSJ*RID@0FDC4E6+!IC`AF=`
M'YLZT:-)MJS944<,[*)0(*;;MW#CRIU+M^[*F6=;B4!R:-1>'342D='A(Y$.
M'5PEA@*+I/"$!$P2B'J(.!&3RCZ8D!&,`HD9-HG8Z(#"Y-1>%#[XA'[H8S`9
M,DP097:<M[;M5D>RZ`+"HZW=W\"#"Q].O#@PO+>3*U_.O+ESM"5T%>#1PKCU
MZ]BS:]].#/GS[^##BQ<O(((N`#>J<U_/OKW[]S"]CY]/O[[]:0+FZ.*`03W\
M_P`&*."`MLAWWX$()DA>'+I@P`$0!$8HX804!A=%$AAFF*&"'';H84@",)B+
M@WA4:.*)**;_^,R%&K;HXHLPQBCCC!I^:..-IT0A(BXW<*#BCT`&*>0M+-)H
MY)%()JGDDD;BZ"0I`^QH"Q`WU#+DE5AF.6"13';IY9=@AIGDD\UE(*4LO%FI
MY9ILMFD=EV+&*>><=-9I9XW@C91+"[VYZ>>?@,8%YYV$%FKHH8@2JB<N?!90
M8J"01BJI,X,F:NFEF&9JJ5I[4N#?I*"&*FHO=<C)AJ:HIJJJI;KE4@`%$(XJ
MZZRREKKJK;CF>BMHT;E*`:W`!ANIK;H6:^RQ=T[0*RX`\"#LL]"N*0`;U%9K
M[;789JLMM<AVZVVB1YB72[/1EFONC]-NJ^ZZ[+:[[;?PQHMAN/O=_W#NO?A*
MF*Z[_/;K[[\`!VRMO-\><:8L&&"0[\(,O[>OP!!'+/'$%%=\+<$MLF%P@SXV
M[/''USUL\<@DEVSRR?XB6JT-!\?2(\@PQPR<R"C7;//-..<<L`TD^2;SST#'
M1+/.1!=M]-$61Z$+'GT&[?33*;6ALP](5&TU"@_TB\05;%SA6;9D\+7N:%`T
M]J\/4$"A`])L4)WVVMJ:L7772+"M;M9L#*!+HX]"[???R4B=<U1%->)O3IB@
MD*U0-*@;"4XTB."O)VI`@;0.5A&B[29=H6/WNGKOV33@I)<>C.`X1Z5&9X8<
MSD774$B.+>,U:'N%.P@U4CN_F+#MPS9AG__C0[:;3-#[Y^HN>LMT+?1M^O/0
MVX+ZS5$U?FT`-$#$@AS49D6#')'7D!$;X%_Q`!0!J2%'#8QCHD;=U6KAR=H/
M:`'%%634@'XC\(,?0$!0D-\Y:""1052.#?+C0N+,X+X`(#`A^[,<&RYQ#CF0
M88(&E&"U_/$Z-M0@&Q?\'T4"\`#.'0]YVE*>+9@7O1:Z<'HV(YP"%<B$SF5O
M$")X`":@8!`6U'!\F+!$1E`@!S40IH+^\!RU*,&"_%W+&U`8Q-HPP84HL@`?
M`7'(-H)H0X?LT!-0J`$FLA<0$22%!0$`HP\`Z`G%50N,V+H=%Y"`P^)A8G<H
MQ!:GF$4=%_KQ>3#_K)D,9U@:3`#&'SIHA_4P84;$":0196."%H3"`BUHX2O5
M^IT2JU6#KSP@*J_#A!FT8!`=[(0%-=@$.#(B1A:LC1&1NX(::-#*4;9Q(@'0
M`AGN=SLYB*"7UMHAM@;S2T.:<)-Y9,,#EKFL6S0K5G^,IM_:L,QJ6O.:V*RF
MOZI7@P=TDUJ8&)X_KL"$\;'!(#\,Y3\\@1,F,(Y:@WA#,`E2+4M0LEKGZ%SM
M$-DY-B01)VHXI1;8\+BBZ)-\A+A=`*E5@X+B9*#4,H@#J748]KDO(G9$93*O
M]8!FVJ)9SI.F2'\F@&R:]*0HQ6;UKFD\%OC@?*X$"@VRQDCQR2-Q9!"!_PAT
M@`DYO,%P6AC$\*IE$.Z)YASM:"(;RJG.B+I2A^B(A!QT*;E64FL3-<AI-WLG
M0!24<Z)S)$=6S<A)6-:.#!'Q!PK&4,IC;I2CXN+C2.<*M)*F]*YXK>8@9PC5
MEXX3H5Q02CH[AX+;T8"'!Z&(,@?QF6IJ,A[GP%HD:("]F-X1ICJ`Z@,T&8">
M=FZ9-D%C3T])K8V<,2&20*MH)6&M&A@D'@VQW_9$J(.,XC&/RZ167&V!!P[8
MBZ[`!9E=\TK<DUYBAGS-1P((R@4F/$`$">DL071(PGR8CXYJ4$,`$N`#+LC!
MFPE)@#7;!KY9(J&;^J/!++%V3BXL$PG?<*U[1?_#A5D&('^=K>8E9BD''\@W
M:_D`#!/J^SW_\M2^9-"F+J/(WPLR,".=+6P5V_M6:F5M`OK!!1#X$]P.-XR:
MQ0VQB*]9Q=IA0KRYO::UQILUDRK3PBI69HI3RDD9Q[A:*A[OBO'V8I3"N+4C
M#C*/(8;A7&Q881Y.\KU`+.0FWY4G&7&RE*=,Y2I;N<H3.)@>_@`$!RGYR^5B
M\I6G/(ZTH2#!8TZSFM?,YA%O3,->!K.<@R7F-MOYSGC.LY[S^N9;M*!*<P[T
MK.J\YT(;^M"(=G*(]@1H03L:5(1.M*0G3>E$UV#1C!K=HS<-*`'4X-.@#K6H
M1_WI2E>3"4,PM:I7C<W_;CZ@#7NC3D@Y36LM>9K4N,ZUKG']@P3L^M,),$,-
MS.!K47/WTU6HPA"JX`4"9),,/S"#-4%P@6L.VYH7``&KM^UD4"O-57VLM;BE
M]>MRFQO4/NA"%<HMA1S4(`=2&'4`UIV"`##!"E:``*F9X($<>&#=-:"#!_H=
M:CH$`-3^]@`=SJUK;E?:VUO&!0O'3?$KW9KA&!_U`^C@!0^`X-SP#K4/<J#N
M3_^@"CG(-ZES,(1/>\`*9MB!LP.@;P)X80<'K\$0#DZ&'0@[XT`WM\.E'+I;
MX&'B%4\ZNH+.]!KX/`=T\*87$NZ%&OS`WRD_>,A![04I>&'="0B`'P)P=?^*
M_WH*Q6;YSC]M!7<OVPHY3_FG`]#RIMO][G@O]Y1?,:[T*/WO*;IXWG]M!0\$
MW-VNS<%K/"`%)G2!"2!H][OC+>JO?]H'/_BT&?*'ZW;[@-F?YC>HIY!S#S#A
MTY8?O.I7S_J,\YU9?@>\["DD^-:/V@L!F,(0=I#Y`$2]!G[P`Q-V\&G);SW4
MJ3?W[C//;&^*_M.D=_GI:_!U;]K^^MBW_>N=>0-HSO[[`JI]]B_@@0"8O_RN
MU7<-F/U\XU,>^0#_-1DZ7NRUUZ#MHX^[%>9>]^S[__]-]P![=`N^Y7W@=X`.
M`X#(AG@U,`4[0`8!4'7O-@3MYV['QW7QMVM3%VHQE_\_7K!PT)=S')=5/J>`
M)GB"OR:`^X$!!HB`+L@=XG=]#Y`#ZI=5-!@`Y9<#`4``!V!X'Y0#,W@%MY>!
MH>8!4P!J#[`#`S=P\18".I@#!)!_GT8`3Q@"*'B%6!AJ#]`JN,`?L_:"8!@R
M)VA]H39O!,!Y>$=.OT8`Q99K"="&61B')O@`NV4+"1.&>*@=;2"'KD6$=P>"
M?!B(@JAW=2@+'):'B&@<>RB'3/!S@_B(D(A]#Y!A1G>'B7B)PK&(D;B)G-B)
M&?<`+<-E<8:)I%@7FNB)J)B*JMA-NS&*I?B*<'&*JSB+M!B(#]"*'0.+NA@3
MLEB+OOB+"L@&N]%HNUB,+='_B_]G!A\':@1PA*IG!J<G!5$8>C]W`71`!\X8
M:E,@!=S(C?E#`%:@;!^7`-W8C2#0?\`8AQ.0"WA`)6IBC/"($LB8?0EP?&2`
M<JN7>S70!8XX;S7`;^=GA:&&=3E0D+Z&@P%0D(U8D!ZP`P4Y!56P?^FHCGM#
MC/%XD<\PC]=G!3NP`Y1'A0Y):CZP>2+I7V1`DJ'V`SG7!1<`:OZ8`T)8`PG`
MCP,9DZ#&!(J756,':E60<S+I`=,XD5>XCJ+C,QAYE,N@D;8W!%='>69P!4/`
M@`A7?CL@D7/'D#CH;P<0:GX@D2SIDNN&>\6&DI\&DZ(&`CM0=\>&;#[Y;C8I
ME"=X_P05^8Y(69?&H)37=X&2%VI,X`>H)X%S9X52L`.^!G6A5H+[V))SMVX^
M@(,>X`73-Y4%J8.?=@(Y@'-TT(8]"7]P>84"$&M&:9>B*0QX:7MZ*96A1P=^
M\)AE>'I3X(/^"&Q=P'E?N9B@]@,[AYAEZ0=7P(U6F0#AR)IL&6J;V9DG^)E%
M.9K**0Q'0`#.^9S.F7VG*6I7\)A7X`>`Z5JN"9OQ-Y.<MP-;699T,')H2(,U
M*6IT4(.OR9-M:7#&&9?LR">?LISTJ0O-"9WXF9_ZN9_Y.6HL%VI1*6H16)95
M-P7"9F\-R)WW]W$>\'-^D`.^YG@_0`8Z&(4Q%YEN*6H<&?^3&SB<&/B>)@AK
MHC.?]5FBLG"?_)FB*JJB`6`%T`EW^'D`.AB!S49SU/<#!/`$.TA])T"%+JIL
M45AO2[AP!-`!CJEP`KJ$`Y=Y=)!P9`=J(XAP;PFBV?=M1H=T)IJEL("B*]JE
M7LJ&^9D`^9D"D4$`*<"&OB:FSGFF:%H#;'H`._B</W``*5`#T#FG=8J?"9`"
M?,JGT9D`!X"CT/F&=LJ&'J"F7QJ45(IQ5LI])*JE]<FEB3JIE%JIA?J<.?`$
M*GJIE?J<EUH#$""-G3JJ_?F+C?I1L0>I62JII-JJKCJF!_"JD^JBLEJKMOJJ
MN.:<IRH+Z/&HJJJ<K'JKPCJLQ%K_K,9ZK"M:=,[4'[^ZJLCZK-`:K=(ZK2JJ
MK+;`'[[:K'89K-3:K=[ZK>#ZI=9JB"RHK27*K>&:KNJZKM(ZKK&`K>8:J=UJ
M!8)*`,N6F<-J!E5``!`0`LDV!-%Z!73PG/KZK%7`ILZIKQ$HJN!8!5,PL.E:
M`]LG"[U5KO&ZG.A:K,,'L`3@A#T)A<+J!2Y:D+CG`7Y`!L]ZF8*JDL_*>\\9
M=CG`;![`L5^7`RZ`LN%:`RJ$,`]RL1@KK61P`AT)L`FP`R#@G.#YG#YP`0<P
M!&:`GQ<`G%:0`!<P!!>PGSWHG/#FG!Q)`"`@J&;PM`3P`XV7L&;P!%)PM,ZY
MC6+;C%+0_[;/F0(Y@'O."1D$<`$7(`57:P92,`5R*@6QBI\I8`5ZRX:]UK=_
M&W/U^IK/&97."0(2D+;/R;;=*K$<TX(^>Y09.ZQ3RW)ZN@-7ZYR#&;-5"9TX
MV'']%@"EFY_,IK72F``H1P!-BK)>$`)D0`<[T''-%@(XI[I30*%SNP-70``)
M>7.T^IQ^$`+#M[8/J+I0=P6Y6Y#V^IB/"9TQ9WY=$*@#I[O\2KU=4*_DYP5P
MZX"XMP.1D;H[X+?3JK.7F[FCN;G$ZKD$FP,A`)W5Z9P[9[H00`9=2[S[FI\!
M(*H)UY!50`80`(7S%P(^X'-LZ',A$*?S=@402@8'`+J,EP!3P/\$@VJ^5#BP
MRQN!*,MXKNL%XLNW+TJK4/<#'G"U4N`!9/!R7ON]=XJZ]D8`4F`%*$N#!\RU
M0+F^.QL+).*^H@F_PRJ_!("3S8:S-ARG">`!/O"<N0>.+NR_^ID#@<MR8<N1
M9F!PSEF[CO>$Z1L"7H"R\^:OS\E[`I<#?C"ASVD%74#"_D8&KPF!_]L%!8F#
M=("3Y2<!@]J3J@L!*HRRA4<&_(BT]0JF*2`%.&BF?KP#=)!L"=L%U,J^N?`R
M0KRMW2J_9O!O2BRZ<7IUB!K%A>><9IB?.:"^6^N<+]>DI!P"/R!S9]AK8DS*
MR=9L;,B/$]IV<4K*72<%NS<%#DC%!)#_M`1`;,9\<\\Y?YE*O'2@PCP\S*'K
MLL[9DP0KR>87JU#7NF,+R]&:8`-H"Y9\R4A)Q,(JOSO@L,",J(.)HS%KPQHL
MRCULAA!P`4K\=3F,SE6P`SXP!(?:Q+;+R8X'`F),QE5PH<JLPAH\=L]Y`5WP
MQ+P\?'2LM<V&EG!GNXR+J?L:<W0@`CT\RA%HPS+LG,,7`F9P`5/WPG0`;8[L
M@,1&M].ZA;H0SN*,D>1\JPY[DN:7TZ%KPW,;LV):!5)PNU?[`TE,!]+H!>I[
MAOE+`'X<@7X+NSH(I&8P=;E'!D,``6=HU/QK?E[PQ'`7@6++OWY@O9`YQD;M
MG#[PH'17S%0]_[QRRM5#X+2V3-0$X`-31\)PRP13I\9'2WH1"*0[I\:(&JTP
M7<FY.-,7>02OL=B,':[MULG0"=G\"0*'FJ*2/:V7;=F9?8:6S:[Y6=BWX(Z(
M?91\P)^,?=JHG=JH7:D2_*K+YMFPS:Z@/246.=K&R`ZJ;:NJO=N\W=N[/:&I
M'=O"3=A<2-MT:=N[6-K[Z=O,O=CAFMG-S=S#/=W[R0:%^`?M6-O(K8NX'=RU
M&MW@#=YGZ-VO&M[F?=ZO0=WZR09V8&3:O=VOJ-SZB=ZY#:[03=^G/=SXO=^]
MO=SLS6C'#=^EV-VK_=W\C=_C7>#E?>`,WMC"G=ML0(FVT"@"7HQ',/_8D=W@
M"YW3\X;A_.FP*4JU!LRQD;W<1,W?^MW@*N[?$BX+%%[ANC@!M>KA^>F`R89R
M(+NB1JR?7V>O;IW,"9[?Q*O!I*KB*_[@P1WA1?F%,(Z(,AZMP>R</]`%*9``
M#9!LL1IY4MX`5`BP%P`!+A"X":N#3_`$L3H$!^`")T".54#D7UX%@=MV7UK?
ML6WD&C[?2IYIH=GDE_CDT!KE!(`#A%D%,^L"7?`$4<[%+(>6?@`!.\#'SGD!
M!4D%M3N3+'>97R=S*9"[O]S`:AOB;QCJHC[JI%[JQNK@=9[D+1X+?,/GI>CG
MS^J`DWG.-GS%0Q#,":#H0T#"SBD!/=S%(9#_`+5+`-F;ZU!8CP<0`F.=`#)@
MRQZ``^K]I:)>J79.WOAY01&W/)KFZHD(Z\CJ@'$-N,[9`'N=EHF^79?.L1T@
MR<_I!7X@[.]>R*Q,A3+:;R2KM20>[<5:ZOS>[]-.J4D@'>'&[7TNK8!>MVK,
MABP7Y=3,<J7\!+\N[,$^[/(.LE9<RB!PQ0RK[QP_J0$/;ME*\"[X&/Y>\C2>
MH@>ORE60`"?0!0O`T`WP!#A7CT/0!SL@`RKL`HB*>T0=[T\[[U;<@Q(@Z?]+
MS!U_]%[Z\1(W\"*?AR1O\E`/]1>P\J-.>E"W`%,;E5TW!`D``9$!=S0XZ@?P
M@5(@`PD0`F<Z!3W*_Z_$)@$)B:^OC/1RWZ5*K^TAW_3@]_11O_=\W_=OB*9^
M7^HAP/6!O_=S3ZUUOT),C_=@J/>%__B0'_FB#LJ27_F6'_7"G?BR@*6,_X*.
M?_F@'_JB/_JD/_JVJOFQP/F=CX"?7_JN__JP'_NR#_G"B`M'YRRK'X:M/_N\
MW_N^__NA7_M+G_NZ#_S&?_S(G_PE+_R\-1W$W_C*'_W2/_VSS_R*__R>W_LX
M[M.B[P5,V<^C'\"C3_@>T`%\+[+4[_=R.2ZXC_T'N/NE'[-QC7:ASP0!D`('
MT`7Q3_BA#P@>"0ET/H.'B(F#4SF*CH^0D9*3CT=_EYB8!3R9G9Z?H*&BH_^D
MI::GJ*FJJZRMKJ^PL;*SM+6VGQ.4NI1F'B`'BD-#7EY6B"E5$`%5!UX!QHX!
M$`D'7<=5@S_855,)/R$I*2X!7DP)4U(A`4,2Y"`).<[E@\->0PD7V.?3=,I2
M9GZD@3M490<V<%:D.!,6P,^%!!VJ-'P'#]BNBQ@S'K($:M.MCR!#BAQ)LJ3)
MDRA3TLJEL:6,'1YVY+`X*,".`T-V4,37I1C,(04?W:1F[=`%00ED"!J2XT(.
M;'X\3*DBR,4..D.ZY+!"#IX'*R$\F%$J[.L4I'0:Y?!0Q4H\KEW,'++B04J"
MN`6![@CP)!Z\`#B\-"*DKZ7APXDX?O*HLK'CQY#_(TN>3#DE2\2[GE1)D4`P
MHG6#O-`QVN7=,IZ.+NP85`W1T4%*:\H<Y('*DR<!3HP;M.-)@@5JI\&C`SK!
MD``-T*H=_6-U`A!='AY"&ETB/@^<):IN<.!`[Z0!,(LWK-@3`$Z5TZM?S[Z]
M^_>M+H_?)05I32J#JG@A7=,%:D7>L5;4(*\EA587^NP5P((G5!$";\`P!8\,
M-561`PZ#N$77(&G!<\\4SB6P@W2T#5+=?@5*U("""P*3W'PP[E)>)P#<@`=\
M..:HXXX\]@B+?#$Z,@R'@]4D7''_!3#:!0,B8H9SK1W2"V<+"`)"/!X\Y(%%
M"QQ0A1\0&A?<(#F<(`V'_UZ<E9]:]SPIUP_1(4)=/B@BI8YJ'>0GEPSA!>EG
M):%P<(./A!9JZ*&(2I;$GX\D5T5]HQUB$U#8P9.D?TPF($&185;CQZ=@+BC%
M6IWMYT<C84GA@B\N)!BA6G4)9L:*$.0TQ5&/>L!F:$_E$.<A5]U%YW7YA9=#
M``JA51BCS,Z828V)1BOMM-166\JBS"IR`1W,)+*."W10=$\*)V0(#+G>W/.9
M?R`(XRY$$#`C00I#O$.O7%940<=#!_AFW#L_4"B#9@MP1@T=+EAT`;A/&"/#
M#X=,,40U!F<XVA`I])M`"G91`PU0)QB<`\39-AOHH-:FK/+*+,.';<F3!"`!
M9O\_!"`7S"WM,#%5X[F%,Z/.8@)MRT07;?31(KW\\R/<B!="QTM?-.JQ_F+6
M=-0Q!GV)H$AW[?778(^B--9DEVWVV1AI_<?08;?M]MLKCXWVW'37C;7:7,.M
M]]Y\^RBWW8`'+KAX:K/=]^&()Z[HX(PW[KB,)RLN^>24C_3WXYAG+GCA*%?N
M^>>@JW*YYJ277C;>G8>N^NJL_S&ZZ;#';C(HAK=N^^V)`RG[[KQG'3GNP`>O
MM^Z]%V^\1IP+K_SR7A-__//00\+'[\Q7;WW*SD>OO?83A%+[]>"'3VCVVY=O
M_/2@Y"W^^NSG2+[Y\,N._B??MV___9*Q$<[^_/?O_____XN?`)<V/T^H#W\(
M3*!*]`?`!CKP@1"$X``GZ(@"TBAU"LR@!D'"P`AZ\(,@#*$(1[@_"L+,@IDX
MX`97R$)8=)"$,(RA#&=(PQH"<'?=HQT&6\C#'IKBA38,HA"'2,0B&C&"NF`#
M]7S(Q"9^`HA'C*(4ITC%*H;P`=[;H1.WZ$,H6O&+8`RC&&F(Q?1ID8MH7*$7
MC=BOV]SF`/\[``@:.(5P_&*.*;C`#_;X`S.8@8\_N,`%ZNB_._;O!W8$Y`7P
MR+\#7"`<>N2C&4``2$2&PY%CS.0#RTB_,Z;QDPE<8Q%SL(,==*&4.?C?5P#H
MA<U(`"8[J*.OND#+5M*2ECH)_X`E]U>?F&`,DMBAURU/:07^_<`#,?%#"F9)
M2VD,LPMY1.8.O*#):OJO!DL$I39#"48X[=)_J_1?+\R0@AU((055XA]3F+"_
MHYP3./U[2L9T0B]3^D^>_/-`N)BP`W*&@RZ$3`$(/`"!%#@C!4SPP#>MJ4EL
MZG";$.7F%[VY/POE(`=/2,$J9\(_!X6#H"!(R_YZ\<MP'#0%;N+?K5)@A7ZF
M`%G!W%]:_!F.YOQ@"%=XI!WUV=%4'O.F.66H4!WZ"15&]*CA$Z41*1K-!M`K
ME:L<@DX_>LX42."4-Y%I*O<G@2SM;QW]NU(7"KJ_F*:@`SLH)O]:ZH$`M'5_
M3%&I!__829=CO56HUB2J>3R)U+X*3ZE%9.H0/$`,+W3AF#+X7RSSJ#,S4&6G
MB;7C204:`FKR[Q<Y@>-'^0>!8.9#7UE)K$W#D8.2&C0`_[Q*--6*UTSJM1-&
M]:ML@P=8(C(U+1#(+02.PEK^]89COA#H;U_"2(T6K**6K:D_>;K9K]*AIL1H
M2VD^6LP5T52CSTW!$\02CF6TMJ%9G*UXE5?;(3+U`%MB:0X&FE@K7-<#\WK"
M#A"YHD=:J)$*W1\(O!"RLA:T.575:#OS&U8/A$R^CW3!5G=*2!"00[OI_>X8
M7YM"OH[WPIXKKQ"9^E*[/G>5'G#J_EIITF/A<[(I@,""!1K_X7!8*`#QZ$!9
M]Y<<``X6QI95!R,/D`,9AT,I.):P:\.+X2*OC@T@2+*2E\SD)CL9AA=X0G'_
M=TP\=N`)/H[@IOQWY2R+$),@!+.0PPB"&L3!C$9.,^B0[.0VN_G-<(YSDW,C
MYR5_M;=CSO,1"1"!AZKYSY-C<YT'3>A"W[302?X!!!#-Z$'K&8P@X#.:`4UI
MQ`FZT9C.M*8WS>E.*_G1$8QTGSM9Z5+S[=*>3K6J5\WJ5KNZS2.4=%$M;.I:
M%PW5K\ZUKG?-ZUX76M9[M;6PP89K7QO[V,A.-J>!W0G&#/O91BNVJR\@A6I+
M0<IQGN0/K.!D]R;['P?@MA5^4.BI_TQ!TY,$P3_J+(5%)ID[23X`!%P@!60S
M.Q.;N!&T]\TR:;>:K=+T`YS1JVY?-'EDC48XI@]KH8'6>]!/*JVF%0H=<LNY
M"^=.<@!"``(07;2MQR9`"6B''GZ;W%K^9G5+E2R%N"3:XDG6X\J9W,<FFR'C
M2K[5DLV`[8HG^8]M9L+.<<[P]3)9CDHV`]*7#**D6UR/-'>WT)E\V(H[<LDU
MISK.)[*,F*?5V`DP0$=*?O*R1^L!OIYYQZ/#E(^'&YDPWDM].G[1>%Q)&[J"
M\;E?3-C]FC@'3*A"%_@"XXNZ.\F"N>BY+^K6>A7=X?7Y>+VB4GB+'R``@T<O
M,FM6=V[+Q/^MB3=ZD@4?@&K8U0L@<,M%O7!XZ&2\`QL'P:FN,,DII+O781^[
MV7>?*+3W^I55"/Y%]UL%$'3``PNX:@-^\,J".]@+'4`OC_%^;G*8828=D$(N
MFS+0<!VVI8OT`[>3S$^AZX<KBW3'X^NB?3DZ@[<AI7B2FPZ"M&HC!Y-T1OV+
M7Q!!Y@#G/M<%X9(3SP<"UQ<N2H9Q2M802F<3;W%LN;<89,=[%,@COL=K+U%W
MT`<"U*8?5T%<($!<@W5\#Y=D,R$12;8I'!@OI-0!Q&""Q=<%!]`+TU2"[6)P
M.4<'E%=Q#<=^!F<A;J%D\M=Q.C%0,)AH61)+(*!B)@B`55=U3=?_5L1@=PGX
M>K&G9,31!>.'>V)'/Q-8@6`('Q>X:R"X9!<%`3B0`W0`@B+H"W619#C@%%X2
M`$G&%-YA#P3H#E<2@TA'!52!>DE6)8G6`'3`%@J!6C+8@V4Q>A=B=,>W="N2
M9`;W%$FV74]R;DQX)4Y(;E"H$VQA!:`X=4GV=3#8"X?7=;X6@9[@;&'8BNXQ
MAKI6AD*X:"T%`6QX$R-(#E$62R?H`3AP?5Z@?1<0$3O@@H!(B5JH%#]@C$KF
M'0T`$`L2`!WP`\<"'5ZR7AZPB"!@(<>7,%ZP)4H6B4:XC2,#>W2X`PT04D:7
M`^F8@%;0`3((`BMBCAW@%`B(>!=R``NP_P,XX&!;<0!=52^IV(6=,`>LZ(H(
MF1ZPF&M*T62"L2!/T9"4I"NC`@)]<5$<-S)447<'0(W'XE8_X`4<YV#A<E%6
M$'KMF&0A4'=/T%71*(WS11P=D`/59G0RJ6)8`G/;98))!GMUEXX>(&5FT@$.
MEI)7<B'S99&^(`-UITM+QF/(Y`%^0)1]$94;F(H9,'9`D)!<61D/T`%@&99B
M.99DF6IAV6@HV&1$J99,MI9R=I9+YI9.1@=4*7J(!I8]J6RO)F-K,'8MT)6`
M&1DU0):$69B&>9B%N6D2(9=ZR62,=Q6-&9EPE@(#X)>!>9F-,9B(N9F<V9F>
M299/@`.?R9F>]O\##2(!DIF:L%:9$OB7F/F:)J&9HSF;M%F;MGF;N.F9JNEJ
M*="7K0F;P#D2LIF;Q%F<QGF<R(F;NVEGOKF*/.":P1F=MC"<R5F=UGF=V)F=
MVEF6;6"9TOF=LT"=VSF>Y%F>YGF>W?F;X+F>KR">Y_F>\!F?\OF9Z>F<!<">
M^,D*[CF?_-F?_FF>]=D)+<`#]YF?!GH*^_F?"KJ@#)J;6M,"-U``^G:@%!H*
M"=J@&)JA&DJ8*'0)`UJ@%1JBGG"A&UJB)JJ@.>0)'SJA(MJB)'JB,!JCYYFB
M`AJA+7JCE_"B,KJC/&J=-)H)*XJC+MJC1%JDV?FCF`"A`""D0VJD3OK_I,3)
M29T`!#>PI$P:HCH*I5JZI6))89=`I59ZI11:`WY4IF9JIER:IE#JI7\`IF):
MH3IZIG(ZIW1:IW9ZIVJ:IYW)IF[ZI@=*IG=J!A@:J(1:IGH:HV0`"GWJI_F9
MI899J)`:J8)JG)):J9;J1X=*F`00"C?``8QJH(X:HY4ZJ)=:JGB:G0G`J9[Z
MJ?@9JIE:F*8:JY/ZG[**IZD*"IW*JJU:GNKPDB%`F'XP!9]9*V3Y`WZPC-,8
M`N\8EB$@K-%762&PC"'`!&1)!U[@!]0:EE@!EH5%##(PE@H1C!T``=W*#-WJ
M!5@6&/9`EK5JJ=DI%ZJJJ^SIJKBI'X857>Q:_Q>&^03("I;:-Y5B>0&M%):"
M!P%@F0]=(`7UV%9IT10R*994(1%-T0%F``$&`9;1N!82()8M%0)^<!/$L2![
M<7D0V1MTT4K(9Z*Q2I3Q*J_@2:^Y60T'$):*Y@4;2X(=,`3]&I9J.*D%(97#
M2+/S!9;42%""ZE;FU`%T,8QPXD@W(99>``&"FE:PATQ5$+#Z%+08>[7Y@&7^
M.K1$F[3$,(S;>JB"!`*A@`$<L)4N*YTPBYLR&Y9MM2I5T`L*^Q5DJ89A&8<Y
M`+!AN0#26(^EE0,&VP'?FK3U^+7#.+!AR;2"(4A2]100&P!:"Y8Z<X9".P10
MVV,SF7ATF:EGF[9KV_^V;BM(IGNZJ)NZJKNZJANW2OM_!X`#\Z6O9"E-R"2U
M&.L08AD"5QL1E$NXLXJX_FJT'9`69/F-NL2SO1M]:56Y\)B-=!!+8%F(6GM,
MR[H6"]!9=#"K>;I(9_8):LNVI`N<-<"ZYGN^Z/L$7?`$@K21%Q5+=:&Z$C`J
MP<B^_N<0IRL:%_`2M1(/CB1(YF2Z55(%PW@!(TB6Z%6X,]F[9E"(/'M1.;$O
ML/>K3N$"$,NY3L%Z`ANX9ML!H^8)X3N^P5F^Z%O")BQ(>]`%>P"YE"M($N!.
MK*N&J-L0J-M*!EQW,/'"`-QNV[(#.BQ()]`4IBLS_A<"IOL40ZS!%]`=3$#_
MC5(KL`2,`X=UNCE@Q,-(#MS*P7HZC",'OA@@OB*,F21\PF3,NBF\PGH$M#`&
MPWR1N@.#NGV+NM8*Q[MEN@$LQ>1`#(%46:<+8YK!CT=,P/Y7QZA[`CL@`_OH
M2)V%NLAGNIU5;015QJI;HER</E\<QK`YQI*\R8)4,X'$PO'`OG[0``)KO^=;
M!5)UNMOUR>TK`_E+RNWPDH&4`ZYLNB%Y++7<OJD<DO^;NFF1&Y!KQ:;K!7%H
MNDRA))R<S,HLR8T[C`0)6Y>,R6*\S-1<S:M;6IRL%-:\S=S<S=S<`5E95-$L
MS8&IR=Y\SB>,&ZQ,Q@&0R^C\SO`<S\,8S@:$`=!)_\Y=:<[RO,^VS,GKS,\`
M'=";3,\7=,_XG)#Z+-`*O=`,W=#*+``Z9-`'[8H)[=`6?=$8[=`!^BPW(-$3
M'885G=$B/=(DW<T0W4D>_=$5&-(EW=(N_=+HFP3>J=(4'=!,V92IS+H'8,12
MT,(SW,MES`S*/!,NP'JT3,9%NP#=+`P"2\@PC;IL.J`I3=.[Q]+>K'TND-5N
M=;["B`."C+HN\,\GO+[*O+X!T;5D_$H2`-347#,$C,1/G;I2B@EX(-547=,`
M+8R"U``R^`,ANUN:00PV405>+4C$@:X+PWQTH`[[$F4!X06N?`+D*@T7``%=
MX`=/<(A*K<H!T020ZPS1RO\D3W`J^=``,L`MRQ!(,K`0+F"Z3^`%.^`'7E)9
M..$,F^T'9N(%.PW,IRL!SK`OD9>&@JT$@K3:R)P/9D+*&1W5SWG7K6C5W:S7
M^3`B,"8!.3$$+1<">B$!52*P-%D0U/C'A,T6QU0%,A`5%]!XVH>&7;``V@?)
MN>P=5;`I_)6-767$&'?6YD0'`DC?1Q$"FR+$2UP04@`GHE&(V,T63&*SDQ*]
MK/P2)S`J5=`7NKT64I`3,B"[$+`I1JPK$,#6#+U'9/"]F5#7!.K<(!W0VA>5
MD2P%5"`#)Z!/VA=(PMC=C;PMX6TAACTR)Y#9(3!?Y##+!+R^+V$/.,#*@R5(
M.##_!#@@`4L>#Z)-VON=)1N\*7LMX-0V(JI1Q(*D8$P2ASKN%*;LL2Z<)1OG
M%/B+?%0Q!`M`%4=1S!G]`P1`XD!JHRA>@000T-?-#AVY+3B,%5H^XU72'*X<
M2.%])Q=@Y:%'W1J,Q&2M8#(!YVEQNGSR<:R7WY1K3EY^`:=R')V,Y7I-Y3*<
MZ$U!UF&.4</<V.KK%&\MR,CWC777%%0^TG/^"1]ZYRN]`@"=$ZFKX$?A`KQN
MP",2XT=Q`H+4SNQH(;J^DMK'OKRNBZPNVCC0V`MBS%H^#,>BZ[JXOH^[WR/#
MZ<A.XZ"NY:*NP2LIVOD@Q*@N2'QLP&9NQ'"MYD),B$=1_](),`>V?N*XSGMY
MONM:3L5J2$JHK.4R,'C=_8<718T-\./QH#-4@"!4$1W0CL1[D1/7FHVV+(4$
M]8T>>.FCW10Z$^:/NQ8.>+K!3N5*00P[8.RFWA3A[=I[\8TG4#-U$>]=LA=1
M0<"S+M+W;NM5NN^\5P.ZSL^:D;I4X`?\)0Q%W[XA@`.M7=FMY$AT<(W6*@6Z
MKA!^(`/,P-25+0,K,`2CO-KV@+H[';5[I!\N(`$0H`T`:>P33@6-+0$SK_:/
M@N5+__2)3@SMQO;[:^S;`M3G[04+$$A'+P6VV.6DW`!(O_8+8^_X[@F+"O0G
MU^\6;>A#C[IB?;HKL)*!=/EZ9/^ZGB](*[#.H8^^0Y_Y@<1C0T`%8UO&EY_Y
MG?SYL;^ZAO[2(/#!F1#YDL]O0A_7YSO'+1T5NJ+<OM_0M_\)5+JJNV]R!+`"
MSO_\T!_]TC_]U%_]UE_\)5S[V._0'HS\:KO\DV_]XC_^Y%_^YG_^Z/_\V[_^
ME]_%4_K]X,]OS9_^]%__]G__^%_^Z[_/N@X(*Q<E?X6&?T`8'(>,C8Z/D)&2
MDY25EI>8F9J;G)V>GZ"AHJ.DI8QD/ZFJJZRMKJ\_*[*SM+6VM[BYNKN\O;Z_
MP,&S%\3%QL?(R<K+Q+(7*X2->!@8IM;7V-G:V]S=WM_@H:BPY.7FY^CIKL+L
M[>[O\/'_PRM8C]3A^/GZ^_S]_O_?QJD;2-#<$S^L(`0HR+`A.GD0(_Y2E<%>
M-8`8,VK<R+&C1TT"'8H<.,0#*RH+1JI<R3)8*HDN8ZVHZ(@#!CP?<^K<R;.G
MSTXA69);D,-#E50N/!A-%6#%CR%>?GBI4O1H@!T+O7CQ`/7'@:TY4C;PLB.'
M!*%HTZIMB>OE"@&/;`+Y2;>NW;MX]05=J^K$#@E[C-+9T0#'4I,_Z.3X4;2!
MC"XR3GAH\*.+ER&*I0;8(V7'DP`+(2SF2[JTZ8)P:]Z8F[>UZ]>P8T/:2]K+
MPA\R&N2@DPJ"2<29<QS]L6-(R50>9"1>O",$'<5TMGJA?+JZ__7KJ_C$Q<!:
MMO?OX,-OI+UV18"H+[FF&K+C!_#%.5RD*G[</67%3[J`!KW@"54/`1R`W8`$
MJL7&(P"L)MZ"##;HX#7DK>7':%J=ETH(BR'F!7SR$6<<8I,MYUY**U0A0Q4G
MS*=$@2RVZ-`#""KXX(PTUFBC(Q&JU0"`6PTA`U9D*9=##F`QUF%Q$GB0X7V+
M0;"#;3M\Y8%M.0CHXI58FD-`C"W<Z.678'Z7HUI/T%$%=4^XX`(.J:3I0@-2
M_"`%=4/T\8,$O`V1"IRI2%"%"T^D(D45=.R1Y:&(LI+`(P7PT&68D$8J*4]C
M)FKII9BFLZ@TC3XZZ:>@AKI/I9F6:O]JJ0G,X4BGHK;JZJL0GBKKK+*F$($C
M+3@*ZZZ\]HH)J;0&*ZQU($3#2*X%^*KLLLS^`>RPT$:+%@A9X,I#LLUFJVVH
MSTKK[;<%48OK#0!L:^ZY8))QP+KLMNONN_#&*^^\X-9;X`5!C%LNNOSVVZ"Z
M\P8L\,`$%PROO0B;@Z^^_C;LL&P`&RSQQ!17;/'%[":L%DW'*O+PQR#;%3'&
M))=L\LDH!ZSQ#VLXDL@B(<<L\T<CIVSSS3CGK//.`JNR[@`NWS/ST$3_4S//
M2">M]-),R]M&'(T`85/15%<=SM%-9ZWUUEQ3_'344ULM]MC7$-#UV6BGK?8$
M4#."!P<WD"W_]]R@F*WVW7CGK3,;;3,"``]T!R[X)7;K;?CAB$O\0-^'_#WX
MXY`[4GCBE%=N.1FJ-O)W=Y%W+OCDEH<N^MT$9.[W#9YZKKK<H(_N^NM-@W!K
M(ZRN;OO8K<.N^^XXR[ZJKK<'3W7NO!=O_,7%_IZZ\,R'3/SQT$<O<`?5-H)L
M\]@[G_40."0]1!7]"2P#%08/0?Z[4G0OO=(=Y&O]M=G'[_#S.7<6X,XE$5F4
M!`%[X4?!/PI`']XEG/4I[0(<.\3UY,=`=-$/9UKQ@!38U8`3#(%=,H``_]85
M&1FP:P@G.-\!0-@`=^7@?@T(0)4.8`4+LNL))Y""_S@(`0\>X`D;_VS7>3RP
M``K6L(`C/$$)UT6%&K)+"B>PX0%P<((3/&%=3UC`$)[0O=PX\0`2@(`(CW<!
MH#D"?@T,H[8>:+,&[$`*1%K7$(8TI0-(IBAT.$`5E.2!.&)H2"<X@`J'-,0#
MF/&"'+R@:(KBA2?H9DAIG&-17.!&#[CK"<5)XP@1N8,J2&E(_*,#'>/HATT>
M8)!*HL(3$)E&-IX@!$J*3_1^T(9'7,MT8HQEK\B8LJ0<H)/K2B,D.Y-'%^2@
M#SN`P`&HL`,93.8`(:B"!#RCQPFN2Y/P\D`(UE7'.?IQ!__CR@&,*0,<NLM)
M<G1D'T"SS4JRIX1SW)$PJ?(8#[+G,Y8\0/\U<_#$-A;02>AT)/1^D)I&W`!F
ML@SHKFB),D)>)8X>R*,:H_3!+E#R!&0A4CW+$L]U+<`#3W17<M9UG@`P\BM^
M<!(E/^JN`$SI*M.L8RZK$-$A=<$W[;+ENHKC'Q56$HC1.4`./+@A*&X4>A-X
MQ#\%2M17$=1D%]7*AJKD`6&Z$9PWI`-[($#5*N"@A9T,4!&W0E)Y.O4`BI'G
M!HD4@'CZ[Z)4A8`+E'C$*6FE*/*,HTZK@$JJFDDRZVH`!*`YTS7F(`22H<HT
MD>F%/N2`?#U=H@>V6+P#.<)C18TLJ!*PM,2Z<0<X2",.=H#6`R0%DL*4`E=V
M>DNSY,`*(-6A62;_&2`/_&]'9L*H8?SP!!X>`(T2J&"[+"L%R)!SF>`KIAQS
M8)AU)N<OG_2,!$=824W*P)A>T*D'?<,_:T:O!A:1K'8E15FE2;-=4RJ)!Y[T
M!"<IA9%5V,%X0W`0]7J`D3EP+VK7U0<J7&4'6'FF4IZT!YVJ]Z]R5"\V/ZG/
M7$:773GP@S&5\EX]"OB"@U$*)P4<QX@JY7]D*4MT#[LN/[A7KM##;DTNLMT2
M>ZF[7=M#`S)*1!8O\0#];?$+5QQC=NVAOD\8(`5=O&(8LXM\,7;QO'K\0O7%
M6)0L[N,>#,DN"``R`/][5Q^CMRG-`<[$6*X1B@W(NR2!Q@,YY'*[JNRW_RMG
M^<P-VK*8=0<5/P!RS>T"`8+,C.8Z@R<!3\BSD.%LN?[6F,_KN@"C*&#G0G\'
MSWI.M*(7S>A%`_K16ALT3@Q-:=<@NM&8SK2F-\WI3F,:TKO+\R-:0('E5?K4
M/[FTIU?-ZE:[^M6P]C2H!Y;GV1VKU*C.-5U4'>M>^_K7P`XVK*%G+`6"4=?(
MU@FOA<WL9CO[V=".MJ(IU@?W'>O8R<XV1Y8M[6Y[^]O@#O>J$V@((/!@7]I.
M=T:X+>YVN_O=\/YU/P]A;G2K^][]8'>\]\WO?O?[""XC%[X'S@]]^_O@"$_X
MLT7L3X`2_.'?,+C")T[QBGMZ2X_EP*0ASO%M2/_<XB`/N<7[D`#&&8(:&^^X
MRJWQ<9&[_.7]+KDTY++RFINBY3#/N<[![3M&Z`$`&#"US8?."9SO_.A(9W8'
M;&T(/"1(Z$2/^B6,GO2J6]W5@U">U+>N":I?_>M@Q_0/JG<(/-2.ZVBGA-?#
MSO:VUR-J%,!6VN<.B00TX.YXS[O>]\[WOOO][VT/?+??WHBXT_WPCK#[WQ?/
M^,8[_O&0A[S@0^[%1EPKY8@_O.(CS_G.>_[SH(_\Y)T=!5?:._.:#[WJ5\_Z
MUKO^]7ZO.,"_>'K4SWWSL,^][G?/^][[GO%YAI$C!&Y[Q./^]\A/OO*7S_R]
M3X$,0M5X\5/?_.I;__K_GY_"%*Y/YD-`=OJWQ[[XQT_^\N-=SH\E,?C1?GSS
MN__]\'^]&6!Y<O6O?^OMC[_^]\]_QE^`Z86@!S1W?UR7?_UW@`BX?S]@`"/&
M.01(=`:8@!(X@>+W`];6.*CS@/A'@1S8@=AW`)6'@5"G@1T7@1YX@BCX>D]0
M>K1S`W)'@C9G@BDX@S3H>:W4@B\(@RLG@S78@S[(=SB``PW`!R;W!PND@S7G
M`T&XA$S8A$[XA%`8A4'X@U1X?7P3->>&A#:GA%+8A5[XA6`8AF(HA54X@4%8
M.CX'!,2GA2K'A6/XAG`8AW(XAW08AF7H=T*8``"("$/%ABJ7`'48B((XB(18
M_XB"F(`XD#R,\#)^^(>&&(4-4`5JP`6&V`!F,H:2J`::2`,T8%50R(E1."A6
M,`1J(`>/>(JH^(9]]P/%5@C38'^-.'"`F(I-6`4L0`.&&``L$`"8R`*WR(F^
MR#U/R`)J`(40P`*F.`0TP(NTV(S.^(4'P(!N`S>QR'&S^(RV2`.66`56H!4G
M@`/?PSUZ507<0P?G(0%36`6@8552P`4LP`7<<R)EA8[;.`0!\(U!F(UW)P,T
MP`)>D(_S*(3$*(008!LF8@6ZR`5TX"<0$(3=6%8RD(_DJ!7I@P,R%`!04)'/
MN)%R>`"$UW346(T/=XW.F(TXX([N&(QT\(Z%T8\2H/^+OL@"Z0.3ON@%4!"3
M`:",,4D#Z=./:K"+A8$#)HD#$M"/5I4#.QF1Q!B),?F.0["3*\D%#2`!/^F+
M/(D#OEB5:B`#I!B36\F18/F&3T!NA>`X(DEP)-F,)HF2)PF4F@B.3DF,@X*,
M.-"/7,D%`2`![B@':/2.5H"44MF/7$".2VB+37F+.'"3-("00+F4<M")5J")
M"N&448D#<K"+$G"9IEB3D<D"Y@B4`0"/83F:8+B"CO`WF'>6VI:6M+B6+&!5
MFHD#NA@`ESD5M\@%*6F95LD%0G29`<"/+""$4O"3=>F9=U>8Q"@'/RF5NDD#
MN(F82RD#H=F/+(`"MFB*4=G_`+Z(CC(`G2R0&Y=9!89YB\Q(FN89A4\P>V4V
M@JJ9:ZR9BJX)FRQ`7-U)G5?@!;>8`[A)B?9(G<6(E`%`!?T8A$7)`@W0CT&)
MG+BXDJ^I&^_(!1[`!7*@G6KPE^\8`#]I)O-IB>^(E2Q`!3A0GQX:A.$9B5Q`
MG?]XGBK:A`T05+0#/.V9;N^)BO&90G39EKN(`\=(`Q(P!%S@!5+PF,_5CT&*
MC#+@CKRHB]HXH+6(F+*YG?A)B54PF%BI!@T@F5+@BQ"`!,B()RSICO^HBYL9
MG)GUFE70B3@0I2NZIDL(?2^:@S&*;#-ZBO&IF\25F,$8A"GIB]R(E%5)B3`I
M!Q!0_Y7$.`0'2J9,.)3`*0<%&I.&2HQ'>IC@8Y65^91-J00CJIOBF95:RJ9L
MBG%EUP(N&*<RRI%0854LE3[1<28A:I,1F8]R$`!T8`4A6@6Q"@5!*`.V,:LR
M)`>7D8\IRH2GNH10\9NZ"AH-F::XJJMR()Y>@`)48*M>(`%341@O"1JOJA5!
M&!V&:H^@(8R>NJ(R=RQK2*IRJJ)!F:#AJJY>R*Y+F*[A&J]1F`)%B`?E:J[N
M*:_ZNJ_\2H@=4(1_<*_X>FH^0`4&>[`(F[`*N[`,:[#]^K`0FXKD0W^%H`BI
M.;"&5K`-N[$<V[$>R[$1&[(/*TI[^`>*X(`8F[$?N[(>*_]#WFBP=.`"*TNM
M150%'%N06N$'"\"R']L$=."PU/JJ7N@'F"JRI$D%)3N`*5MI&LNS3HNPYJ5"
M72"S*K2R)]`%5+`A'-M2XQ5"3]NP)W2P5ZL$'[L#/_NU'VNT4GB!AI`@*+NT
M==:T:,NR7F:P,N!A]G589(NP$B`!"2L!5ZNP?:NP6W&P56NW?LNWX\.W!ZL$
MBXNP86NP8]NP$O"X9BL#B=NX"2L%CSNWGGN>9/D'FP.W3.NY/)M>CRL#=""=
MXS5>,IL4K;L`?N$!EH&U6FM,^)4#>VNP6X$#!ANV,A!?ZJ5%DI&[D:%>7=`$
M9#%>7I"PD4L%8SM'!IL4F#M>91'_H&6!7\E!!1XV7GY`!2X@8`%JNN1;OCP[
M;X90`!3PMJ2;97)KO@U;N`I[%95;M41"!=!UM3H+`;9[6)@4O./+NV51%#M`
MMEM1N84[)520)'Z@OT/@)#7D)#M[L/'%8+2K!*@TO9AU0M6+O3NE!&9;$C_K
M&[[QO2>P4_";PBJ,L#+`<`J$:^U;:.^[P@@KOPE[N%H+O2%`%EYPM>,3N%H+
M)%12P]+$4J%TORC1!4J@'V^5`S[,O8MEL*[UN"?41"=0!4J<P>"[`\1TMB'P
MFV8KQ2X@'1%D&_H1`IU+PVKLN3+0?85`:G`:PU@VPVN,N@=K3`N`P_Y+45,2
MN-#;O\1T_QY:$0)$?+#\*P%(/`1=L`"6H50H@K59&\54H,`4'*`_G,51'+Y=
M;+!?O,F3K+QNI15:)!KXM;MK?,I?:P;6$L=R7&)TK,;!>U@"+)VRK+5=<+9]
M#,E`?%B4K!5$[+O16DR'FU[$9+/VU<"0'+[C\R,R6\EBJ\3IY;MD005(/"2>
M_%Z#`<SQD0-:]".KB\K@[+074(3UULIQ^USHG,[JO,[LW,[K[!L`$E]46\N\
MK#]8X<>[3`5-`"!78<P"S$9/4D3\K,!;\65TX,?!.R5#TKG/.[87=4)%@1*I
M!"#7O":$-"1*(!TF9<KAW-$<^P-[J(:U9\[;Y0/N?-(HG=(R\/_%"O9<)["Z
MD0'36K$`"["0:(RY:%S3SP457N"XZ;P`=/4GZCS3SX426N&W?H*P+.7/!WO0
M!^LGXT.M/2VS)X`G>1R@39"X+B`%TQL`A`RS6I'&'CW6"WL`K?@']NIP).W*
M*MW6;OW6<!W7<JW2#'M"/=H<9)W7YOL$TL@(W[?6;#W7@CW8A%W8@_V2ZN4%
MAOW6>@V_#<"V%7L3@&UB)KW8EGW9F)W9FKW9F\VR+=,(2CO9DE79G%W:IGW:
MJ)W:ITT%+,@(-L&>HBU&I*W:M%W;MGW;N*T=FC.JL3W:N/W;P!W<PCW8+IR^
MV-;;`C7;M.TC*JT$E3O<T!W=M.W&1GC_W,@M2\I]VM1:%'_U7'LT)'DI`[ZD
M%`%00])]WNB-V1WP"'%WL=?=0"!`VR_)%>*]`VMU0FF51.&+QHC]W.G]WP`>
MUT]@>N]-5/&MVN'KTQ(0`GZ`R-.*N7T[)7W;MZ`QX7T;X!B>X>O\!"6;A04>
M4`>>VENQSHA,)%KAN)?[7!+029MMX2[^XC#^XAH^X^K<`&<=L&K]X?!-VQO"
MSMR-1X]AWL_5!,5$XX7MWT:^V8^=<>ZMX]@3XMK-XNA\`B[@X!/^7#O0!.D\
MXDG>Y?^-`R%8?TX>2U!^VA?5TK$<O(J=SBJ$SA>EY5X>Y]H=XS(N`S?HVK`X
MYMD#`G3>YWY^_^'M'`)8H4(>X-Q$DLX2H`0&!2!(+N>.?ML7[EBN+2-Z+C]\
M_N>8GNE]ZP*@T<-]ZP<+Z>(+8!M0YMR/?NJ0WK<U4(1/5^D,=.F:'NM^[MR8
M3NNR?NNXCNI&3@:LSMNNON>X'NS"/NS$7NS&+NNZWLX^L(<%X.N_WCRP?NS2
M/NW47NW6?NW"3MC/;09G+:HC_>RV$^W8/N[D7N[F?N[ESHII*+#@'N[H_N[P
M'N_R/N\6SM?#]^WM[CGB3N_\WN_^_N^8W@"A^]?Y[NX`?_`(G_#\C@-W[GUY
M7O"=L^\*/_$47_'&C@.ZC><0'SP2;_$>__$@'^,MK!H;?SL='_(HG__R%4_=
M9EGRJG/R*A_S,M_O(,#J/-#D+D\W,#_S/-_SV&[K%T"Q9Y?SD+/S/G_T2$_L
MM@[2.$CT$9_T4!_UU&[C+8CO3D\V1B_U6K_U(D]VAN#M5U_T2C#V9%_V9G_V
M:)_V:K_V7-_VZ-[7Y4;P83\W(+#V=G_W>)_W>K_W?#_V;A_R2A#F%9OC<X_U
M?7_XB)_XBK_X>?_WXZX$&7\(-H'SA5\T=<_XF)_YFK_YG-_Y?A_RQ5T(<$/Y
ME3\TE^_YJ)_ZJK_ZK-_Z:?_B2H!^I\.^I6_YKG_[N)_[NK_[=W\`I\D#M%_[
M0],!O%_\QG_\R(_Y?5"$ZAO\PB\S9I#\TC___=1?_0VPAZ0&V\\?,M%_^PO@
M`@M`]E2^^B-P`F3O`N8_]NA_]@LP`DH``>E?_?*/^SC@]6]LW=L_--WO^H,!
M""-*@WX[@X>(B8J+C#DY@Q!=CX,[(8HC'DH!`8R=GI^@H:*CI*6FBC)!?ZNL
M+3P`K+&RL[2UMK>XN;J[O+V^O\#!PL/$Q<;'R,G*PAVGSDIT.X*$AL^A7IE*
MV!XG2I@+EYDYG-;EYN?HZ4H2:[-`-[#+\O/T]?;W^/GZ^_S'S>J?HDU34F@0
MMAWD`N1`N,G#CDDA''K@%$+A#@^6#D4"E\./!S^:.$%8^-!;IDU*FGB`H,UA
MCFX*)P*<2;-FJ#;N_S!PZ,>SI\^?0(,*':KOG\U$T1PI->1EAXN1CSQ@="'5
MA8L=?A9@/1&BRPD_7;R<R)'MT(XF)W8L&*?DXX*)$*ZZP!32(TB/3:"V_9CQ
MJ-^_ZMC0XL!A#M'#B!,K7LRX<2^C@)-NLJC$D=6F;;T,\J`YLY(%"T:`I5.P
M9:(<7CRV7-"%)3@Z(2K1=;2CLV47F#D#WLV[7(+!&/`X'DZ\N/'CR']!_BOP
M4&ZI4J-VUNTY1Q</UNE@(U1V4)-QCT8XK>:ERT/9)Z]/6@@]$_7>\..#^D$+
M`(86R?/KW\^_/[_E?C5'367DX.;9@9P5`LX)76B7S7:)5#6((YR,T!HE(?]\
ML\D)NCDR"!V<O"??B"0.@D-]-^#GWXHLMNCBB[$`>)2`!!E22&HR4:>C%RZ$
MY8=U+JA&4'>;5:.)4TJD%4`("WE!%TJQ0=!$;4Q*5^*5),8Q2P$\%`#CEV"&
M*>9A,MH$00`L>4>.%Q2"XT43!L&I31,+L(E:`%852`XB7G3FS21*5)F:6)SX
M`9(FEE2)YIQ8-@I?";.XXN68E%9JZ:7^.*KIIIQJF@$M%!0@'*:DEFKJJ65V
MJNJJK*8S`"VOG"KKK+3"F&JKN.:JJR=\T'+#3K4&*^RPQ-VZZ['(MEJ#K\`2
MZ^RST/9D+$!U=M/GM70DTH07:2H!@5C)AKLK`8;_R8(!!M&FJ^ZZRY@QQ+OP
MO@O.3!!X(`AV`;!9&R(!A'5(OW***_"J($0P"P<WL*OPP@SO8@9H$$,<[\04
M5VSQN_6Z,`1GH`T10";R.N(!O&0U,<0"(:36S5-^>)%MDBV',&_*+M"99)]I
MAH#;O`/W/,H/6<P"P`U`-&STT0V[6W'$3#?M]-,+#)'Q6UZ\.U8.)Y_<T`D+
MT.%(%0M\3%8`0Y!%VPE0D54U-F3M0$>](M/!FE10U\VSS\<V@(4L>`RM(M*`
M!^[LPW87;CC$4SNTP^(>T)'U6FQRDF\.)N?@>+UZ;1S"=R=CHY7&=#2X79U8
M=V')Q:BGKOK$AQ^.MR<2_WPJ2P$W3"KX[;B?2GCKO#N=.)Z%9!7Q)AYIY36=
M)K2]$FJ@Y1#"$#^Z%'K63K$GT1"MG=S[]G:O[OWWWM_=J`11;%E[[NBG7^GN
MW&^?N!>@!;`#!!&CEE;R:^6%4!-T+`__6BGCC`L4$CJN?>XV(<A*:]K7/?`Q
M\(&&`Y_J(`B:0?1*%BV`A_HVR$$7L8^"A7L?:#B4`X@1*&P<HYP)&K>6^3%O
M+7[XV`)&XH&WX*E?N)'&U5A#/Q#Z\(>%6QT0);BT(2AA67S38`>7R,3D?!"(
M3AN+"V`(,97(+7[P4PG7`D`GDBAD@/];$B8NHI`%C`4[T@C;XE[REAY"\8UP
MC/_C]K1GM\\H@0RTT$D3]\C'QCQ1CH"TF^6ZUH5`&O*0B(0@"+1D+G3U\9&0
M#,H%$DE)IHEM(I7,I"8U>0&#R0)AD0RE*/<QR4U2,F5T,J4J5PG'`T!*%D,;
MI2QG*8]2LO*6N,RE+IO6``,(C0>CHJ4PAPD,6^[RF,A,YB&5\*K9\>!OQ(RF
M-&UA3&5:\YK89"!.G&F[:7KSF]7,ICC'2<Z(32!22ORF.J49SG*Z\YW(Q",&
MT[G.>M+R`B?(IS[WR<]^^G.?\`RH0-MW@9PTRYX(%24^_\G0ACKTH1"-:$,'
M2E$@/B&/'"A:0C<*R85*]*,@#:E(1TK2B%9TDS)@9"S_.(`!C7+TI4WT:$EG
M2M.:VO2F(SUIZR3PRE@,S:4P#>H&VPE(G!KUJ$A-JE+S*4<E^!*6SQ2J5-5'
MU&PN]:I8S:I6)]J.V5$`FE,-*^"JJE-*;O6L:)7H`K89"R"$2JQP'6M9Y_K#
MM&KUG+(`0I>"&=>^LHNL=`UL0&E*`)6NXAWQ\*MBU058P3KVL4V[@&'_@(=?
M+?:RT?I!4B'+V6SBP).Q.!=F1TLLS=KUM)U-;3Y!RPJ6DO:UM3+M:6=+6W^F
M%HKYW-LG[P/;WII*MEF%0,JJX`7B5D&DL#EN%?P`@=HZ5Y^W!4TS?9HBWUKW
M4L#%JA=8P-WNJD&DVWT)=X_[_]SRFI>I<,SG$<S7S>NZ]TO9O>IV69`#.=0W
M`"*M@OW&>][^^A>G2(R%*Q+[W@*[*+Y*K1,+U&!&Z'J`!@%0@QJ\$.$)YS,'
M:F`!#<3B!0B?@+__#;&(0YJ`R?XA5@9.,8L0K-3YTN#%-/##"6BPX!QTU\8L
M6(N&;:P&XM+WPRP@[XB'3.1_=H"UJ["LBI?,'Q8G=;X2EK!8:%P%"%#9RBPX
M014"0-P,]^G'("ZRF,5\@*#%`@]Z9+*:D^-DI&[WNPW.)XV;.^<9LP`"5:!Q
M=[^<`PB$><R`%G$J9G$NOJ[YT(UILU$5_%U^TEC.6;:SG?%+8PK3=P%_#K2F
MS[N`KO^N-&&(#G6BS^IB&-/`SG2^,ZII7%_N\MG/0=ZTK/O+5E8`@`>BSK5B
M%&W4*D3YUR?@0J.%G4]A?RO#&A!VOM0@AQFKP06SCO9S!0/+ZNKZVD+A-4[C
M8I5N0YL.:#D!N/,Y[A/@YFW\BPL=S"UD:;O;KO*,!>U$A>UZ^T3;[\ZWOF\*
M`KYED,#V#G@^\+WO@AL<I#^8[#L.*O"&U^,'$(BXQ"=.\8I/_.`8+S@$GM#3
M5<PAS0X/^3PT:_&2F_SD**_X"%+.\HAG_.4@C3@.5-%(D=M\&1!ON<Y/C@V+
M1V1Q%S$!R^VU\Z)3'.:R;JX2RO=)4-_\Z<4@N=&G'I<05/S_8\R-^(U2[H&G
M4/WK8`_[Q9'^T.;F\X(^Q374URZ,G(N]Y3$\T\=XY($F>`0U.9#+M\SV%"9Q
M1H=B0Q,$HA>`M[$)+L(U&[?.A"\_N$!DN!G;VR3N->PP-WIY_];A*8R=R;_]
M\Z"7^%;-?H(`KP(/!:``VU?_"ZF'WN0]ETIJ4#.E/DEE)&^JS8_Z;'FIC``;
MMM?91#P2@!MA(P"8*#Y9&!]#W7=A$\`__L0=T?S^*;_/\J/P0XC_^NY[__MF
MA\!OO`I4UIO?%FX'_\1COWBW.2+B[T>-<&'S,0@X)2[VFD@"H;\2X3()OX,W
M/WDQ0/.#%1&7(/,S$@#8<Q+7!5[7_R=]%G&5,`Y2TAIG$H'JEX$:.'4%=6:2
M<GX@B'X;*''L)X'U8G7UPEP?014/43+]5R_B`1[YHA#3EW4FX$(MN`/W`W^I
MD8"<H74Z&'$6,G$T*($QA"93$G%%.(),V(06=R+S!'`A.(7IIX$E:']>PRV%
M<(&,IX0K\1&#UW6(=RW]%SD1"'S2\"WS`Q?1X`51<C5*B('V9W7]@PUO<Q4F
ML`E2,C]PZ(1^Z(<24"ZL``0@-X6&6(49>(4?T12T43)JR'G+,Q%540B;@!54
M,0Z<<8.5Z(8(<1`!2!L]J'43,7>XQW@Q`3<?@R;REX1<^(>N.().Q3>N98BT
MB(CJMRW?DO\7PM5UN(@S%,@F/")X;+(M=^@(*'B!*#@""J&+R8-\/-($OQ<1
M/+)X<:$00O<M*`B,$:<=':%U5H<;6I=UKSB.X+<`3+=2P4&+ATB.:N@\U8@0
M*[>!CJ`=#LB.]GB/+7<"U$9=8*6.K&>+?IB'9M.-3#@"BH>/")F0%A=OI\<E
M_>B/;`>0"CF1%%F1ZK=(W`21("B1%MF1'OF119=P?/-6&FE^'`F2*)F2*BD#
M@L@**%:2JW>2*CF3-#F1)X!D?T!/,`EU,EF3/OF3X_A4H<5P.WES/0F42)F4
M&GB.K46412ER1ZF44CF5GX=7/I6.3_ET44F57-F5.\>0JV`?#YG_E0*WE5YY
MEFA9<1@I;^=#EC9GEFD9EUWY-C^`9/_FEF\IEWJYET\HE(?UDGC9<'#)EX19
MDW0@-Y[&"DH6F()9F(XIETRY"H7(F/;V`X=YF9B9F9CYF)SYD8=IE:P@6I0I
M<`>@F:9YFJB9FIK9F:SY>F]#``?C=*-9;Z6IFK9YF[B9F[JYFY?9FC-YF!V8
M=K,9<+7)F\9YG,B9G,JYG*?IFR=WF!=5;6,YG(=6G,QYG=B9G=JYG=R)FPA)
M!SC0<7]`.U)(G8AFG=V9GNJYGNS9GML9=H<I`;K5"CIIGN?IGOB9G_JYG_RI
MG.:85Y-IG]79GP1:H`9ZH.P)`:`IF8XD_Z"AAIX(&J$2.J$4:II@^0>@Y*`/
M6J$<VJ$>2J`=\$L:NJ$?6J(F>J+9&9W".:(#BJ(N^J(P:IM*L"444'XLFF(0
MFIZP=I@!X&JPP5VF.0(:9IL]:CD@$@(QFJ04>I,9>:-,EJ/I66G]PUU<`"(:
M-@*F>:6JZ05J8#DVYC)*&J8'"@&R0Y_EZ:3N=0`CL*9LVJ9N^J9P&J=L.J55
MJF=J8)`L@'Q>PP5YMZ8:Y@5\BJ4C4`4>P*<N`!NHT6$LP`4N0ZB,*J:0RIYK
M^C;KU5:BB:8X*J>:NJF:VJ,T(*0OQ@)-P`4LX`<C0&,:H&%SP5T2IJIO1F-J
MT`1%BF/T!67TQ?^IN#JGD;JKF@F6>#"+F&I@:IJKQ*JI?B!E+(`=>9IARKBH
MCW>KW,5%&18`I.H\QEBD(5"M(5!I?D!C<U&LX!JND\JK!LJF:WEZ0V-HP6I=
MPRJN[DICI)HO&G:EI*H&-)"JGWJEF%"KW96G`[2H4^J&&7:O7N:N!GNP")NP
M2CH"/]"2?W!KT[FNI-6N"9NK.!:K+M!=C;,#BZH4>**OU?I[&!:M10H!I)H:
M&:84SE.Q+-NR+MNR!2H#XNF0$OM>%/NR<=JCB[JF>N8'5AIC.0!A0EJK7L8%
M&L!%U=JCC>,!]-6M>0JH-/"M.#NU5%NU5@NN)^"7?]`")%FS['JU;^K_!]R5
M`VN*8VP*JPNF,PO675R`&]R5JFH00_3E-6,[7U0*MGB;MWH[M67*"EWKM;UU
MLWC;)]^*&Z;*IC'$(VOJAK)ZN".`&WU"!X];7(OKAI<A1GN;N9J[N<1::TGF
ME("+68++N:1;NJ9[NE5K>I05H*$KNJC[NK`;N[*;J_W6=.K:NHLUNK.[N[S;
MNWO;L%"%N["EN[Y;O,9[O`B+`V;&"C0KO*-%O,@+IQ$1O=2+O$K0MUO;)<[[
MO-6+JX4@M=T;OK$+`9X[8-OKNGI;?*+A),K8)X\K1M>RINJ;AVP:)!0"C;(Z
M#M)@OZBQI@*))Z+A"(HKD!TQN>/0)R9`861K_R?L6[^18P(C\+_0V"<*`8$`
M++ZSNX^G!YCGVU?0B[/C\'B5T`3/9R]@07=-\;B2H(QDNZ:QD2\(\7B<X0%=
M\'L,41N8@!K8T125B'P[O!#*6!O647S747PWW,`&R1ED014S;"\+81%_AWP8
M#+MS,7ZQL)@=[,'>ML5<W,7@RZD#9"\787L?(`UF0\)4`8%=AQ5LFD!S88P.
M&"1FW*<*\;TND,".L+A=I[CED7QK.A$?X(#)-Q?8T*8X_'LI_+@3V,)=8*H*
M,<54[`+T47-9[%<'X,68G,F:;!5VT8*H\7A-X1&%K!`ZW!3>YG?18<IW7,/M
ML</2P*83L:97H8S1P?_*[#L.A;"FAYS+;,K&>@S+=J++CMS"D'RZ<P&%U%7)
MEKS)S-S,5J$4!]$$8>P4.XP;#O$!?-=M9.%XQG@6<OQX>0>Y=KQ[X8P-)VQW
M#C@15F%Y3C'(UNQM`F20\C,74U(EBCS,Q8RZ5J$$K(5Z:J?,<'7)SCS0F-PO
MG-AU02()C]<%TGP53F'0D2?#+?,0X,PF#M@4MH<GG>C*?8(0)VS1VX(00VS'
M&`U\`X0G:O,QEWAXX'S/`T2V!!W379S/;FH5"X"]KA"Q`+U1`BW3/AU#E\$C
M>>)X+=-MA/L!>.("2#T7"E%\0EW!21U#GWS'%<S)51UYQ;<D2ITO$Y&'W2;_
MU4)-N%@MS7B<U&+-14$BU#Z]UFS-Q50,`6BW"A^XTV'5TVU]UWAM%8^;U^"<
M,K71UGO-UX(]V(0=TR,`EHAUNW3-TX7=V(Z=R8<W$0W]V)1=V9;MS+7+"I4%
MNHN=4'9]V:`=VJ(]VJ1]UP=`:%C9V3#UV:7=VJ[]VK!=V1(0FWB@!ZJ]VK&=
MV[J]V[P]T'0P6;=FH[=M3T_0V\9]W,B=VUJ;>L(]W.M4W,D=W=(]W8X=F:FG
MT\XM3=!-W=S=W=X]T&!IOMF=4-O]W>9]WN?]`[9-GYP]WMJ-WO`=W]3]!"T)
M!,#JWL\MW_J]W[S-4V?&`?^,W^I4WOQ=X`9NV4T@_\T0,)]AR0/-+>##1.`'
M/N$4SM<);A6).9Y1!>'?).$5_N$@3M`)GN!QC0=SS>'3Y.$AON(LSL4C+LV^
M^K<H3DQ/\.(V?N,XGN,ZON,VWN(^'MH7[@(^,`M8/.,1SN-(GN1*ON1,/MD_
M_N28S`23=:E&?N1-?N58GN5:ON57#N6N+0-:FZ%5;N5<7N9F?N9HGN9JGN,5
M_I_RIGIC3N9K/N=T7N=V?N=XGN1Y/0(+>MUQ+DPUGN>"/NB$7NB&CN?AK;U_
M/DM3<.B._NB0'NF2W@29_9=GNNA]U.B3ONF<WNF>?N4JN@IQ4.28#DF:_NFH
MGNJJONFS;2[M7>I,=.JK/O_KM%[K=;X`R[L*+*78L![KMO[KP![L60X!`E!M
MO1Y*LB[LRK[LS'[8&`1,QV[JS#[MU![LP>F2V!WMZ#,%)M#MWO[MX![NXC[N
MU5[NYI[EH9YDEZ[MZL/MX_[N\![O\C[OYU[OM#ZCKL[N?.3N\][O_O[O`!_P
M`A_N]E[P=(#:^KY'_#[P#-_P#O_P$!_Q\5[P6=[M32">"`,$ZYWP'+3P$O_Q
M(!_R(C_R)`_PAVX"35"IMD8T'+]$'E_R,!_S,C_S-"_R5V[Q5DQ9S=OR&_3R
M-?_S0!_T0C_T_I[N7)OM/&\T/D_T3-_T3O_T("\!AN56[97TN+/T4)_U6K_U
M7&__\2>0ZPO'ZU9_-%,0`F9_]F??]6J_]FPO\R[`X/;=H&-_]6A?]W9_]WB?
M]WJ_]W7?]G[_]Q!O]MT>F0@C]G//,&7/]XJ_^(S?^([?]X`?^5P?`JH+L8=/
M]X^?^9J_^9S?^9XO^9$_R<RKZ)<?.(GO^:B?^JJ_^JS?^HH/^N*^`,]>]:7?
M,*?O^KB?^[J_^[R_^C\O^%;7SQQ<^[;?^\9__,B?_,J/_"-`<ZN@!Z1._`MS
M^\M?_=9__=B?_4T0UQ@JF]*/^-D?_N(__N2_^@S9-P'^_=-?_NS?_N[__F=?
MZ>-9H^I?_/!___B?_\<?ZB8."#P%?X2%AH>(B8J+C(V._X^0D9*3E)66EYB9
MFIN<G9Z<4R&BHZ2EIJ>HJ:JKK*VNK["QLK.TM;:WHDJ'+3P`G[_`P<+#Q,7&
MQ\C)E*&XS<[/T-'2T]3-$"6&0#<<RMW>W^#AXN/DG<S5Z.GJZ^SMN"-1AQ@<
M<^7V]_CY^OO\A>?N``,*'$B05A,RASA@:-&OH<.'$"-*-/2OH,6+&#.F.W"H
M``^&$T.*'$FRY*:*&E.J7,DRE8PXA?#P&F2RILV;."=.\=.RI\^?%Q?4,]0K
MI]&C2),JPP&TJ=.GU5Q$.+1-J=6K6+-*0@FUJ]>OK#+(XZ:UK-FS29F"7<NV
M;0@V"3&@G4NWKDZW>/,VO9#P!O\0NX`#"QZG5J_APQF'P"P$X`;(P9`C2_[%
M%;'ER^C\^($PM5`!QY-#BQXM"8?FTZA3JU[-NO5JS+"A:G:!Q5"+&S1)Z]ZM
MV[3KW\"#"Q].?'CLXZ1XAHA7"`@&`'AX2Y\.V7?QZ]BS:]_./3MR::??&L*#
M02[U\^C16N_.OKW[]_#??Q>E^0-?0XVCI]_//VW\_P`&*."`!/ZFSFE#'`(`
M#W_UY^"#)JU7X(045FCAA05^H%D3BQ'B46X0ABBB0Q)B:.*)**:HHH8:UE8(
M+[Z,*..,^)2HXHTXYJ@C=Q_TV,9X1=$HY)#?V+CCD4@FN:.&?GR`D"';Z$?D
ME%0*8Z3_DEAFJ66%9O358)5@AJG)E5N6:>:9W#TQWH)?BNGFFY"0B>:<=-:I
MV@F[4/`8G'SV>8B<=@8JZ)9-=$;(3'XFFBB@@S;J:(XF")#-#=`I:NF;C#ZJ
MZ:86AE##>%5=*BJ8F7)JZJD`,B$/!FV.ZNJ,I:(JZZS;R3`4(8WM^>JN(<9*
MZZ_``G<"-IX)PNNQO0:K[++8N6!`-A2`B.RTZ/G*[+6T:CC`(;U(2>VWTEF+
M[;BF:D@`562!J^YNXI+KKJ93Q.7MNO1*UNZ[^`JZ0(=_<'##O/4&'-B]^18\
M)QU9X`>:P`P/;/##J&K8!',>+MSPQ7,1#/'&2?;(QZ328BPR_U8:<VQRCCWZ
M,-YS([><5<DGQWQBCQ\T$)?+."L%L\P\5TBS"VO>D//01NW<\]$$]N@'L1Y2
MT"K14(MD--)4_\<DQ7]XI&O47$<T==5@MT>S%K8)`G#7://S==AL;Z>A&1T"
M$63:=/>S=MMX$T?S$TS_$67=@.MS=]Z$_Z;T`BX2XN_3@3<.SN"%1]Z:"]LR
M]I'CF(L#N>2<,^F'"7"]&&WFI'NS.>>1>QZ"RLW-7?KKQ9R..NIJ-A<J[+A;
M.?ON`$K`[SRY!P^,[+P7?HTAY3$N_/*5$%]\WB8\RQANS%>/B?//X_UCL2%;
M[[TCV&?/=@K<QOC]^>"+K[YV,J"+_O_[C(2_/M(?T/&[>?#G;XC\\Q_M@EB%
M\)?^!D@(_O5/9A\PP1$4MC4"?L^`!Y39D_Z`A\\TT('6@V`$.=:C"W3H-MW#
M8/4TN$&(:6@!AOH#RT2(/A*6T&!,2E@`.7`V%@K/A2\LF(8HAH?&V/!\.,QA
MP3[%&`K\\(%"S"&+NL2](V8PB2]4VA0,!2,GCA"*)3Q<$&)"*2LR+XA8Q%:/
M)H8\#BC/BYD#8QBOU:/0*<YB:(2=&M<(+)JES!!:BV/NYDC'7]',#SBPS>CT
M*,<^;G`(MY*;^0A).CX:$E@(XV*Z&)G&1QZP"0`D1'EJ2$FZ.=*2M/I8`.'8
MR<!]$I01NT__Q0K`R5)R[92H+-<"RK9(5]8-EK'<U`<*191)VM*3N51?"+98
MB/+\TI3!S%Z/)F`(`1[SELE\GH;(T"$V/1.8T2S>!PY@J,^$\)HYPV4V!_4!
M"$A/)K<#9]3$.<Y!K0%Y^%,GU-C9SD`Q<Y3R?&4]=_>!!."'!_E<YSYG]X$?
M+*:"1@PHT>@Y4#/13`;2R]KE%!K.AJ*.#A2[32TI*C*&6G1+3"(B!3G@2XYB
MS*,?S1*3_$F('K+*I"U#:4J5I#2.>(:4,&683&=*4RE\<)`YO=A.>9JD$\B0
M$-%J95"_-52BZFB,[RP$#TJZ5'HUU:DW8I$?1*G)>%:U7E?%*HJ4_Z89$#33
M+U\56%C%.M8>Z6)Z%TSKM-;*5A,QJ0FW^LQ&Y4HMNM;U1":(*@5=QU>F_C5L
M(;@G(=)9V+X>%FP?\$&'G-E8PSZV:@TPU(*46ME+^?6R%C)G$SL[5]#2[P.5
M0^=>23NJSYHV0Q]PHW-HR-ICN?:U26-B5SE;6S[=%K<"^L`4+7?&WOKIM\`-
MT`(JES6G&?=5R$UN?':IV!8`];F>E2[/6/H'C6*WM=J-64%C0M+OBBJZX7V/
M!)H#@)>:5U'H32^/FF34F\;UO6&*KWS=]H$1;$\FQL+O<??[,!:MCBBK%3"I
M"&Q"X4*)J@I>,(-UV*-9%M.K$<[OA`O<A/]FNC?#8M+OAK'S`6+^H3'?!+&0
M1#QBX?RQNEWDEXJ)Q.(6NSBR!V7LC&ELXX(]P5#&W'&5:MSCX)P@<905,H^+
M_*X0,->:2EXRD]TE4F_R-LK[(?*46_,!W=X&PEB&D):WS!H<=&B38:;1F,FL
MF@5D<G%IAA6;Q]4$KB[HOG%.SYKG7)\03-"Z*<YSM?C,+`W9M+O=$G2R"+VL
M#UCX#\[!L**SS&AE]6@$$=WLI!^T9SZ/T<X3W31_.CUG#1WX4`$6-:4K74?-
M-``F<<!#462LZG"Q.E@:.L&M@%=K/=^ZC@DDEDM[[>M?SXI)J+UI<8D=&E(S
M6J0@9#9UG.UIN!'_0AN5DC9OJ,UGB+:4U]IFE[&/?1HZ"#;)X1X-MZ?LN:VV
M=$'I%O>X(U8?/["NN7B.-V#6S6;A+D:O^E;WO/TH!1FV(,@!GPR_V4R'[?7K
M7PE7^,"SY6?B1MQ>$\_6#SRCIXM'9N%;=FMSDNKQP8"<S'3H3*1+;O*,T\H%
M"QRIT%CN,)='K,N6RS?-KW+RD)O90ZG>><9L3N]A79NP0C=+SYG<HQ`D3L=)
MU\K2BTRS!P3PPU$OR]1[K+2-5TSG6<_)UIDL%%0'.NQ%(WK$0C`"8F+[RFBO
MR=A;S*00Q-QO8(Y[VM5>KFE>'>YZ)\G<BZQ*>`>>YWR7U4N`#O;#CV3P:CT^
M`0"]ZWC_)/Y4+B#BRBN/%,CW6+=PYOS>+V^J]C%>]*,GO:;ZNQA`HU[LJN=4
M`C.)]-<+/O:<JGA7;7\3-OC@]\`/OO"'3_SB&__XR$^^\I?/_.8[__G0C[[T
0IT_]ZB??C07(.^\C$@@`.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>y90591by9059102.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 y90591by9059102.gif
M1TE&.#EAT`*I`.8``&V*-)BXF&N6=$II&"4S#E]L5'2+2>OW[?WMU+K4N1TH
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MQU-^7,'-OWZ@1Y"RDIVEA-SGVA`Y'(VHCTYS';'+LA9"'<W6RC=A,,O3Q#P^
M'=OCL[S)D-?DV'6?'*3$1EE<%+[7ONOSZ\K;RQL@#BD^$)ZP@EI=+\GF=;V_
MLJ?'IE!O+_G[^]?KU^?SZ^_W[]?KV]/CTY[#GMWLTM_OW____R'Y!```````
M+`````#0`JD```?_@`N""W:%AH>(%8J+C(V**I"1DGF4E99Y!YF:FVR=GD&@
MH:*CHB2FIZBIIGZL?JJHK;$8LUL!5@5$!4UQ!;V\!BDI+QT&5@;#!@:]RR]P
M<,'!3"E,U-72U,H%!G'9304O+RG)+\K)R;W9YP8='<'FX2G.$-K+W]-,9OC4
M'>C2'?OFUA$SIR68LX(%XH`#9W`?NW79EG%CHHN7KQ!Q,*(SIFS>L0X,0PH[
M]D++MH0*M\7993&BMG()C]7K=>N6,@XHXZSDM2MAO5\!E7GSF;"G-BUC2%1`
M0L7%"S-F7C)Y,;,`!'`"S6D3UVM>/0-FRI0Q0W59LH'F0!X3ME!DN&<C_XL5
M*V#%&)R"6IS!P8<#CAD7<%RXK&IV70IV;$$&:TL.W4*26/6Z^`OX+3B0(+4X
M-@GA5N>7XL(UGBF3\#*0X`HR[C@-#CD#`B"WG19Z(;I>5+$:@$,TW;AC)+V:
M'FZU*O!S<:R\5@:2$"([CAI)FDX=TB5,FCQU(L6=^RM4LV3-&D^^_)8M=]*K
M3_^@O?OW\-OOF;^'P@4B8!2X<:/@C0("9-10@@EUC#""!`C^H.`/)30H01P0
M`-###10*<8,0&%XH!``2]E`$?_H10(`;-.CP!H00Q.&@!0^6H$84$E@0!0<2
M3,`!AQTP`$`)R4`0X00$]/?&&S(2\$83`&"!!?\##&`!0!0$3+`"`",(L<$(
M19@PP`!>>+&E"2L8`$!`'4!@00DK]&!`#U,:,$(//7!9AP4*1!&%C`J0L0$9
M^_4WHALZ[$>`!Q-(8$*":HQ@`IHCK%"'FFP"P`$'*_BH`PT*<`#!B#30P)\;
M1D8QI*A-D&&!B!;4`*6(1GK@*A2GZD`&&;+N9VN?_P6I@`5%9*DE&9XJ$.(;
MM@K['P<&N'`$"6S`4`83$'10@P0E_+>JD1-H60*#/TCP1A0EC!"%!Q:4.V0)
M^"C1`Q0B#MG?EEX4,8"\/=2A!@=U5+J"HUX8X.._E3XY[@10%%QPCV0>ULYA
M$+QAY)`0>W"M!%YRV(/_@0.,P*66(T"PZ`H<$'"FCS68T$03)7`0Q\(*@U,#
M!`:L,$`)7M11APED**!#'!S<2:X%Y)+K;Q,U%`V!!&10RV+/=SKL!L11J-%@
M'1':O.^4`$#`00\;L`-`#2?;7,?)-4"T@HHFA*!#H!Y06P,'(;P=-P<ZB%JN
M!U"LT(3)37!@`I@<0"SXX$.ZZL&W)M#Y[9V+UO@G`44H"N,*-3B72'2+5*>Y
M=9=PHEUWH(?RW2GAM5+>Z>2=M]YZ\;7^'GU[Y)!$`@*$P(5^QV)<A`43A&O@
M@H=:X'">(U`(`(7(<PA`AEY,$(5^(`8)JHAD<"!@"1,X3(`)1R-(I!HQUK$.
M_P`F(+M.'?X)RQ\!=JH?Q?(8-FD"JQ:,L,$&76X)[P`F%!%F6LG(V@CRU0$J
M.2EC&MN2?^STA@>1`0)J$!2`_N6C!IG`0"^B%O\@P"8OJ$EYTM*;WOXC`:UU
MJD_K>YB(\L0!,CQ,5*QJE^$(E16M_<E8PEKA&R;0JUY)X$_%@M*M</B&&CC#
M#$=@RA%<`+(@#>EAKHJ<U`8DH_K%2'A$\F`/)N"!&$J/`/.:5Z]6@*6B-6%?
M9TS3F""PKW\9P`3^(8#!:#@0-QXF&.P@P^`>AD41;2QC<!J!![O$J!+4(5O"
M8]0*_E8^$ZP,+>P`"=$\MB5Y96E$47#AN'YVMPG`;/\%C-H``Y3`!`"<J6=O
MD)@3B;2HO>U+;!!H@@4BY*\2=(T=8&O"S8I6M!6\X%]OTR,FBY"R60FS/]0*
MG.$XP#N]Z7)2*8/2$_?XK522*XZC*I<$FO"\6[W!"R78)N4L=PC,96YSU;D.
M&[+SN="!;G2F*!TK4(>Z\Z!G=>QQG>M@MX<D^#,!5N#"[7A'L&P-P%"%DL#A
M=!4D$4E@"!"=$(6&T(,A7,AB%Y-`L7+XGYP!"%P0`-(*X]`#$_P``B<=P:DX
MH`9AD>$8#3/6ITBH/@5T(`(,J)`0@&0L^Q7!2_H+JOC2LL97A@D`8>H!4.,T
M`?Y4,PHUX%`$IZ>`&D02"RG_4!(Q>@"C(A2H!SX2'X<,@(4.=`P"`O+;"&J0
MPA!!*5<Y%%'@6*4]+QIN>_L@612"I:M<\;"'!Y4>B$!E@5OU25<(NE,3#``#
M-I"`"D<H@*FT]RU"\<A?'`#2F?[#NWEU\8D$D$`-&OH&>7%I2QXR5!-(M@)=
ME"!K`-N766\X*`^,("C^\E<['F*DASEL5)0=@%(KZ06*U@A.=0C7W[19@J@:
MH$$PP^U`0`(R9O8P2\4,$@.)-```Q.BL$-B`$B+0@`9$H`,64)F=#K<J!)7/
M;W[[F\TXX`8+?#!:D33`R0@$)EZ"#68%((`.C%2N*L9(>\(BDO,X2R1>E<\"
M=:@!_^\F]<-V"8Y0PILA7>]D*#Y]RE;?+,')FD!.0YCS$>BDCCK9^0EW=@>>
M?I!GC.EI'M7A\P[ZW"=]<B`[?R;A"QK8`1?`0*@8+8I!):`3JXQEI.)"-*(W
M*&Y%CP>G'DB@FX/-5;?BH`8O+ID#X:+<I&3T!I;J+!GI0V&NK@RC**0@`A%(
M@X6$@`:>"LM08@RC_DPP)G-@H4<0Z-A6`0#4>7DA"DZU$P$XD`(=_2"';B##
M,*`A#3SVJ@X#T-<(^LP.+)0@2+WKU;8B5((XC(A]J^(H1WNV9"\*"UP&:%*C
M_>4C^K9U5T7X:Q&.:^HA`LFP_/%>70D<!RUHP0EL4$$+-/_#:B)I37W!3N6\
MH/!9$4V@;/1E%0_AU3P+F""7-4`C!XH0(;1>+4Q)?N)^HD`,`%BAS\:`&3M>
M$#)I3E/1#HM"G$H0N8L)TD"**I"B$%3"'G'/:WTFT[PA4(<K7_=O)4!TG3*,
M-P!T8$`2V``3X`QG)I2L3#(2U;=$%(7R&6I`OFKA?KQM\0[D:TQ]8^2WB08V
M#JQV&_PI.01,U-D>]%E2Y;(3^+Q=*@N$`&CIM9&-4+E'A$:L;01?&K&`K8"V
ML:K$A3AQ!5*LXDNL,Q/:88.+7SRZ&8N'QN.QYXUQG./XP,['<&]#%ZP`!B)+
M0`WA%24#-@#'7*TP"@.`Z`V4ZH7_&W"IN!P:0I=V?4/HA;8$9(C#J9CLY=^2
M053&_*$;;`[M8@4=?"90PYO'&P$T]&!#/\QA_X`D@3S/*R!)*F"E?,0.GP?5
MA\1:W`[;<;^<Q>%EBX%&,+!0!P\L*E_^)JN2E)1D&DT@6QVS>(RDB2<<%LL-
M,_(HBY:\*P@LB0&QSFH`CP8B8_U5`KT2'I^?W2>)=;Y.)A!I#"%F@>I]PPE4
M&(,3!"-YZI,(5)54,,.S*P12!QXE(E!@2;W"0Y1S-26S-Q-P5KI4-.*#);E&
M`)UB`<0`,[349V'"#J="33#D,/8%)_TC7!>#6APR`N&R+18G)K3D(_\3%&C!
M1M8E1OWC_P4<X%;69`%>P"&VQ'$;QP3ZA2\2MD>H4B.'8B>\`T>$95\,T`$A
M,P&R-&Z--',U1S3:$"@[Y%%WTCOFH#4%)@$41H8]@T7D,F900"/VIFV%<B=D
M1DP'52.G\F'[X2F#HBM8!QWFQ'73<1W8`7;M-':C`&,RAG:I8V.KTW:M`SL]
M!G=)D`$9$`#XL0,&H`28F(D,@`9=!E<^*&464ESQ\E,3$B\%55CEMWD`0"PL
ME5X0@&BATC,U531Z]`9ZY$)U`STD\A\+I`8SPS\]L'%I`&<E``5"P`!<Q3X_
M4`0CXC>]XB5%\!!KXH'1-3YZYBN%8BTBUP0%U"V94@=8%4G08/\`SR<EF+8O
MFU96`616;))KQ#0@$)`"6G-E+()EZN,IMK)H(N(!=1(D9%`E935*3#("34)6
M65,M0@1XN;8E/T2"ZP`!?-(?\_-J,5($4)`]\R<JTD179/@"8?`$)/`'<[`-
M+B0H'C!M-U1@11`R?L<KKE="!3`VSZ1+Q&0`AT2!XK-ZO8*!BY4,[X8PR?"!
MM?A"WR(\[2(!_G8@)Z@QNK-I;^(U[,!&`3259W$6Q$`YY:)G_.8%31`D=[=)
M]@4!#-``<A`!&Q<!*:!+=0!?(0,Q%J9@S[<[OW5%_^$!/9!'#98M?T-,8#,V
MF@(V"1$HG2(B3V,!4#`"Z.5;UH0W$V#_+M/DEH-2**#%*BNG!B^"*AWC+4YC
M6)TB)$&RAR?FAY-P'9[38H18"F5WB(A("XK(.HP('XX(B9$XFQ2``O@1`BL@
MD$K`)!O0+=)#,:!H(89G2:9XD>6(.WWR6B,2`C1")!66:M"#*1`2.`-FBRN$
M.]_#BC\05"9@`$PPC!$``"(B!A<#(]T2:15I6N2V)F(R5AST;E900+U22;N3
M4$7Y+;VC!C^P)R32!"W3#@#00PTR`/DB:.80>R.0/84R,R)3`N+@/"SB+1AX
M*R=T*Y/R/"Q2`A75`=_'!$T"!3V055A099HI,N4X+U<T)`D:!0M&`$DF,L)3
M+A=95Y.9.-<R_SPB$P<\X`)C8`=AH`4\P#.&.0"(ABEPV)@A,W_SV4.IDDLV
M5S[/AR:3DB\HTP3H=UT>P",1,B8K\),(LP*$HY$C^`:O]2;D,P$9XR4^1VC0
M^%KC-X,*-Q"K90PEPZ+<R4/QYVT(0FT6``!I8%Y#R`18H#41YC?.TRZ])4/E
M:",E6B[Z@2GUQS[LTX3](V(G8W/S0#1QH`,)EC/\02[^4V";Y"I#<I&G(JF]
MA:,6%BK#0P8E4&X&\`-^`P!QH&Z<B8<+!9I]*)J<TSDLMAVG*3J&B`%GAXAJ
MAT^O^3JQ*9L9`'<.D`5"%@(`H(GWLP$2\!\FT"6(!S]#H&O&65#,R/\?U8,@
MEMD?V]=`0V=]=Z@#I*8]`T:9"H`@(R`B);!G=5`S!L!Q/0`]?D(`:@"EX-I#
M^5(I:Z(F_K)&8M)#JY<I2LBB</@#:L`A>T4#9,"AP\`.UV4SV6H@R>`D8U)`
M<.2<248#BV(`?-)`5T:8%=HI^"@HF54$%C,$2=*AR(@WL3:B;W(T^%F./I18
M@P-#KY5A1$(H&#F9#5JBO(@K[(,3!C`'?T`"3S`&6@`!)6"D!39A,?0?<>F.
MWB9FN@2EWH8]8'(S>J,EUR4O0`E;YA`F8/JSBV-AFY:"%M@E/>`D<0*-PN4O
M+Q>G^26%4``SX58CMV=0AU*.++(!9&F6XT7_A(O5!%0(7V,Z;#M4CH[S1.^#
M5A%I85N;)7X3-IDZ*0]SJ/37F'_5F(93.,_74%Y6>4,B(SP229CQ$(&SF;92
MH?UQ.+J*.;S:JY90FL`:K$$`3R1@=O.TFJQY3XN8K/*QK'#7K,WJ3Y*8`%-@
M!3NP`RNP)+MY/PSBBZ>E1<<S`-^ZJ,_G`>*Z`A.@'^5B*DC#.%>FKB1"`^9C
M)JLK,B(#)5KR)3<S(%BP<0"@BW<(+G_S?`G(0]D2(3WP;FU"L-&E,0OHCV-(
MC[RC(#\$+)W"`2"!!;FF)01B(%YP6^W6L5C@!1!3*.?K!O4ZP=02/'7(LBSL
M>8.TIDHBD$QRAE`P_[-Q\B9F&Y>)=;6*%EHQ:JU(!RL\]%MOR3W7JD+^6C1Q
MX$*X`R`<\`(M``/+0@5:0`XE4V!+]JE+&J5^\S:(E%Y_(P$1=C,F4P-B=+9@
M-8-9TZ5A4@/`!5R1^R9)&2^!-T"_B**`=#5D(A#B^`)&HJ5HQ0&Z8UJ,I$WY
MV@`>FHGB@%2!FUE]`UJJRHO90H=D%B0F$(4I(%FDQ3N[QD/X0C9]TP3,*7*_
M]2U75"Y9TLF'$S'/@T-^-VQ>]`8M=[&`9@`5QJ^U.U,BDKO1L;LJ`(B^*W;`
M&[S#:CK&BP''FKS*RT^/*)O0*XG1*P!$P`5BL&EZQP#8<WB&!B=19IS>+/_`
MA04@0.0&"!)T!E:'P%8BXU=AL6PD)V>OC%0'8[D!$VI84%)@FPLF5L!!5894
M1[7/A-8K_!BOY;PH510U"D(&$50BW.!R>/HW9+0"'M1N8R(A`)`]0Q(C#R(@
MAR)B$<<B$7HJ+,S"N^*4MS6SHR0-,TPDJ52WA-9=#+RU1#Q]?B(X&V`FG=0K
MHR)R#D4E.80X!F)Q1=-"TM,??]L!6N`"<Y!L,-`"2V``+`DJL\*BVZ;!X9:%
M5[1KUN/%A0J-9^M5<`I;E:(JU50X^*8]<4LE<((]7I(M\SDO\5<'($2#L'L8
M:/*"L$L,6\D_RU4"2E"63(")'JHCU>@Q5VNT_V'_+`UD<G^#96_`#IJANE3M
M0RLIDY=:+LUIN=QSA*F4@#EK`C!$F;@25XEZG<(R`1^[',E0,K=LAW>8CV_`
MRX[@RZ3IN\,,"L)+O#-FO,GLFLO,O,X<B9)8!<,]`P&P`W4W`86GO6<,OI$#
M`-TJP`5#,-,](IKG*1`2(VJ@32&'SIRI`V4S)DG:4"UI(/7*;W\S+WZ=!DHP
M550W<035*Q>4)E?C<P2KP)CF'_QA`7NS.QA78&K0FSEC5<F0:]EB,QV,:5ZP
M`?420&PR/ZU;+DG&8>B'(".2-`8VL2P<!7%;,<O')#*<`K/[1&(PJ/USKQ=I
MX#0@,NW[.'75`Q$@/+`B_R]<!)G?(B^I]VH:PT/)!28-&#+U1::?=B=6U0(Q
MT`F/I075@%[3/6U4:#*9)2,\1'15^#82\"9>?5V-DB8P8P6.PD8:R<H\[3!R
MS"&`%"\=O#OS\E=;DC56V;%YG==\+!!4PM?QEW%E">)-,J+Q!PPOL)9]%5=P
MU5=1D'+,M%$EP``O,&`_O;7/!^4C]C(T<H0L*H-MV2XC\&<]TKZ#E64X)%C&
M$@4!X2.C'G2X?(?X>+NQ_1Q:1]N^*HBF";S".Q[&S-O(J\S)RLS![<S0+(G&
M'61<0"A>L(RFU27;9I'?>I'3[3QN4*[PZS&)HYG3-'FY?"NX62D3.7]&HK?;
M>?^EZATM!H"*[]TN/.M5;,0F^P)68(54,4-&4_<T7<7=VP(CEDD`%%0CST>@
M6W(S17"72N"Q%0TDK?L&W8E65X9^Y?)%!W8G&.@I9V)[!E*W'Q[8@XT%=M-%
M07(C9+Q%"15.Y=@TD1?:H14!KSC=N4;*T]XTA.EM_--Z#7?E;P-;2VAO9#8C
M*1`698`$"P"U+?`"BY2GS[<WCMN8.X0F;T-TAK)#^P-8,A@F;+0O^RP\I-PT
MT^2B%@TG7G(###R?_7-!#7=9:%%6B'%'TR6-[-`_:`QG>_<0*WC"(H9@JLM1
M#*78NS/WURG+!>#*)DK`7M6Y-O<RIB)+.^0_*7),?;K_?%J5-5!R)QXV1(*>
M0Q/`#MI`L,JP1A(F(^F,AX*#=:V^N[4-Z[\KZ_!$Z\5KZVNGO,N[8[O.K+TN
MB6LP=\@-!964,4^6:P8CW>52CE``5Y&V6CNXJKQ?[;<2;OM")[GBEI0B<`J;
M.`K`G/X[1$Q(*.Z8)8Z2[G"R+_Z,[FL)/630F'08(ZN5\`)&:W."]AI+H&B:
M)'$V5FM"\U%@)N%V,TXG6"(S*@TO,AX$2#Z'^*0$"$HI#`P0"F\>'F\$!(<K
M=24C$Q,#7@.3$U!0BA(0!%&,!!9*2A)0DT5%%HIO41)1H(Q1"@1N$R9%)1(F
M/75U*P823240Q#5DC&\64<L6_P8='2EP+F8P%21',#!.$#4%'"8U$Q86;Q)U
M31+C)AQ-)A-1;Y1>J5X`$/@K$`8&`,`&Y>*]458NV4`37KST&-(CX0A+J8H,
M*++KG80B`/CQ@\:QP[,4&CWV,P`A1$15`S:D44*($+2,(TRH>Q4JU"(WM'(J
MV*G`#3DW0&GA;$2K1!R>.T6AFE"DB84F329`;0(*E#(HOS@4)#""`19^/?S5
M,6%!@E$R/8&J13I00HT:^[K!A5"@1D9]<3Q(>*/6#8V@-J,LL$.X<(7#B!-7
M4,&XL>/'C/-(GGR@\@$VF#$'V<RYLV?/)$*+'DT"@VD_J$VK7LT:PY8M=V++
MCOV@MO_MV[AK[]F].T>2W\"#"\]`O'B&*E7:L-`0@@N82?9NW/"BZ50F*!:L
M8R)`@P"9-QQJS')3DV>HGC32_U5KX6V)'A88'1JX*-*`2"5,#)#0<R=Y,D")
MXA<!IB22B'5%K+#""`JNT$-85D#PRR-U0!`%3F18,(XZY.SDB@0$0+`"`"9X
M@!U38TE4A`D9&1!!`PT(`0``$]`'2QP&_!5>'11)`*)_Y&WE%PT6/#3`C`!@
MH206###!`"D,I+!,(P0L$LH(;_`RP`B7K&+B!`;6AX4G50(0`0`>,$4/?1`P
MP<0&`)2PR"*T[+++)6,-4,<])C3(048=D,%,67'<TZ"(=1C_`%(-+X1Q!!5L
M_$&%"R\4X$Y9*VBUCE->H''#`(@4,4()/]Q3@X*^/-*#`58$-!`S5M'W1A$]
MW`#`$`K14\E$120TD8:3C,!/DBF\`(VQT?2#9#_[Z*``KV9!Z=6,I<8Y`@0]
MZ())+%42A11/09&U'GGE'0+@MU%@PI0Z3800'@?=[D0&F+=HU<H$_C1'"P$>
M:+AJ-\CX-61?Y$WP2Q,KU-#$J0K6H%$3^T3A00FUK%5ENA>9,%AAA"FF&&0@
M/S89999EIMEG*']&VLJJH>9':S";]MILL^5F\VV\[9&#;\+U#)QQQ+711A49
M#'T"<\YA=>MUV%6GW;8*D"$3*/[M_^LM+3<-/'"&$EA@@BY4#B2*B%Z48(D)
M9`D<8!RSE*`+6JMX:>`IOC!8]P@`]/`(A166@)/$'"BSX1NT+/,&PYM@LB)3
M14P0UHPO-A#!!I+,"0L''*3G1A.-7U3"+&G1T(I0-)#QT`@CR)CDDDHPT;I7
M6"BPC$"A3%!"?!S0<\HE!V+7+P$&,)$"?P1,$($2:E#2)3,F_,)`!Q#\P!]/
MMG,9TRY%^$*B@B2.94`<-71=`@#PRJJ#=]%PD&X[!FCA@A,D_/&$$R[`\8+"
M&K(C@1`WH($&EA;X0:FB]Y9]-.$7(LI4*RY6CCDQP@*]\L((<#7!B4A0(KB@
M1"HFL(L>0/\``!WA2`I2@*3'/2-S"HA(#S:P`1D]Z$$QR0\N5H2V5/CH/-^2
M#WJ\QA=&N*$5L=C7A=+RMTF<0A68LP#FD/$J5TC,`^R(!RP&\JT?>L$C^(A#
M+=0SKJ`(#F'N8)B"L-@$8:WB%HUP(CDXF`J-<:QC'D-,R.:H@I%)QC*7,5G*
M]LB9E9&F9:F)66MF1C/:W.QF.4L"SWS6,Z`1)SG'H4`&*,`"%#0'#%`H`G;(
MD1VG/0T*YK``!$#4B*'HT#^,0,N0NL,!"'2`"5BP@`)(M9<I+L(57)JA?O@S
M+@4PHP0K^D&5,F&@8M[)"Q22(*I\48-?U*%P!+I76>(S)WFL0)/_$$S%1$YQ
M$8WT(`+@E-P/0/6JBJD'<SY:%[@"1#B?;&F"R\)"DDCA.J\PP`1N@$4SK&21
M6A!`DT<$I3S&H8AHI*`.W3+3!C8X@5'%ITI[`I0)+N1.2]Q')K=H@C_Z9`!5
MK:`$->B`+N#E+>_$0:,>&=0M)-`.N+2/"G]0`16HD`T#U&``+)&.$.Y#+9"B
M[53;DQ``FO")BTV@2M5DAC8MX84A#(%7)AC!6)A"5:8<R2,A?*4!?($/?&2$
M`T#1(#!7896+V4E%#,4$3<"5%"*ZX8:'J,7O3NG#`!V":>-H`@<F@,Z]?&)J
M:XS#=ZQT-5K4``LI$$FF.$"&@*E'+?)8_U$),-<.O5H@4>'3AT"*\`-=N&(<
MDT";&]\81SG2$3)VO&/),L/'UOK1#Z(!I"!9\QI"%O*0-LO9'A3)R$8Z\CC'
M$1IR*$"!!%R`")<L9B<U<1VJ2N`'K7QH?]CJG58^XQ[14\-<#'"[-]!@!1WH
M["OH\\`9;G!%BVCL&\B`C_R,B@SJ**8B/)`]/=7!"W4XW5B<V:<5-")P\.B7
MAOQ*'Q\E@G%MQ.BJ`"!!)H#S11'H@0-EF9;_:HN#5NI+(\RBD`?-*"Q8$,*3
M!M&2#OA3%N2HTCLFH0`:*``3FO"2)LPQ0B480%8,.!,J&`2!B?J'O0N&&P=]
M9((>#U0?">K'.?_\(0%@P(L69.!`H?`1OA)XA"E?@\6@.$D,"+R@!=HX@@IB
MT(<RF($)'"F&V]PVH:WV"0)-6*`Y_)J,>%@`(BH:P!`^A<'&J0@3$-0(%CK"
MCQ+X`H'XB,(H%4!?523BN3^@,CXX%!%U@=9'A/L6$?DE`;1<B`91X`<$&LN,
M[_1'EOSB9$;Y&A6M6$`-:G!*=C@I1?F8\A,9"L%W9`&+"<2!L:K\"Q08I"`1
MU4`K.RER?HYM`630=P2[^"C:U(&YC7&LM(<Y+6I3BT<]MG:/KX7MRU8S[MG6
MUK8TPVUN=+NSW@[GM\5!CKRK0($V)"`+5MB!<\"0B$[BM8U'Y=9T>T+_ACCL
M`QK/8,`&.@`G!W4``&J(#PU"&EX)J&&BY/5:X]1:9&@\C^$@QX(N"(L(1:PH
M>ZC+$^JRYXL^U6$6ZB,'0<H2JU!FYQ:3H.5E>]$G`"CAP>!D`+<X0'#O[",.
MZIA$+/KBRP$,X(4+#HL!F$0();5N!8`)12+2M48+!&@2_1J',CP0A14(;Q![
M4<0(CG<1+TCH%Q(@CQ,539(J);V-DY7)GG;!C^8E"FV_$.Q<J/R.$<"I#I#6
MHA3CT:^NE4,J#C.#Y,L0@S^P@0K;H%0_T/9V58U`?5(D2V`&HB9ZX-GI$U&<
MNFC8`X2+Y!DM=T>%NF$!8@#(:X\?`?3T40*]_S)CH):>Q,U!A!.<`,F7"_1A
M=Q3U@FZXT@#G6L9.3)2=(G`@!%"X_JO5X)$:D&76LP,B#H%D,2I-48E-$&PM
MBGP/?]1@LD090#%BXC5VL/&RQCXV,@A@;<-@6]LBPVVK=3+?AC)^A`&E41JS
M-4BN@0%WH`>%9$CJ9AOLMDCNE@3P%F_S1F_$10$SX`!&$`)@X!Q?PER:5".I
M1#RE!!1DX#`B`3T=,&@;8``,,B,2L@+2HP`.LP&#E@(0@`CD)0&C\@X#5@3)
MXX)+@@4C,"56@U03L`)Z@E]>@`MZPG+[50<3H`/%('.AQ$&A\`K9D280!$S8
MH1`KLBI=`4YIH(:D]/\&)7`N<0`]'*`+ZG`*`M$7$N!T>>-A&2%B+3$FL`,@
M0&$"=%(EG'1&%>,&OI,(`Y$(;3((L%0._8(%$<``EQ`/C"`!2,(ENX`WHU9[
M&L)EM\,!!H`+>V)]%0)X6@%",?@\!O`#<,,,9L$.'*`&CI<,74-ZL%`)-S`$
MUV)0+D`:*H`!9N`"(%$`)'$[\6`[A(6)Q>-TO8(K92$1EF`*C),)P@<%K?=Z
M^@`!'"!9,;$">_&-`*!%'V2+G446LCA>CL=<,*8N-!<4%9:+%S,D%N`1"`,,
M(C)J&3(>HG!&ZN,!F*-[($$,'$!]F82"5.16!(,4GV`E`A$%280/HC:'T-;_
M'T66,%-!#GM%#DJ31<B@`/T'1Z4%@(Z16GDP@`18@*"Q,K!%`N,V;F<P!BW`
M`S9YDTO0`F-P;K45@1.(,SG3;A?X&QGX2!O8@4@Y`UF@`?K&;R;"7!1&'C\"
M)';Q9OO`#RDP)LKR>A\$`#^@!H?#!-@5$`*!""$E:C(!!3)!`"50;$GR83V`
M-Q^&.A/A"P.@'Q!QEX]@BG5@`3HP(@U4/&L$"KN0:EXS5M5WEZLR+#F6!HZ9
M!O?T7_W@=8<390]7`M=1$&FA`/HQ`G'Y="+A2E5G`HHR:%3C$[;TC^.@3VLQ
M;5/"+V8W0BF@!#^("";P<P`0'X?@2D+P.`O!)>/C_Y6S,V!NPR\D\A0]QE$K
M<%1<,Q"D&`W"<YFDQ$!=]T!2%!\^)P1E4RK7L@MNHP_MHP5.,`88\`=(0`55
M0#]:(&H-9",09$$-,0*JD$D#H&I@<F"@19K/``W'QA1NHXK@(0HF($#[&061
M!B_CQ4%5$07NZ(Z@=2+CT1\7,Z&E`SX*LS#_\`S0-SHXT2]B^`:GP'TV90R9
ML$90(!`,23#&)X])T0IEH151X$$D09'W`(M/H9$A(#%*M`S"IPCX!P&")9)O
M9`?8MA@F&1D"F$>LQ9(JXT>AX0='<`4U&0*Z1@8Z<*4ZT`0%4`!6P`-=T`)7
M\`#H5C,_J1M!:8'N5I3'<?^42$E<,T`!:Q```A`".P`&_&8=4UD+0&)P7M!*
M^P`H67D/'?`\,[)P#"><-4!"^$!-LA(/!_=PHQ2*^G!?N/`X`#`=3[<D`."9
M>>DK*W)-WX@V\``7SKAE\6%3GU![/W""FJ`0&5%"6+"&I,`2I#0BT/,WWI$1
MHQ1C#P4446`),+2-_C`C,8AX7I$")F!K5A)VX[`,CY:(45`'$W$)`S$"@P")
M(E=R/=``:5`"OK0Z2+*'<?DU#B()Y+`BJ$-T8U%[I:@AWE@X?,$3;P`,'D<(
M<#)*-7$QLFAG4:`&A*`$&]!EH^(C%]<YM@B><&`_+@`#&,`&1S`&,#`'<]`"
MS5?_`,X7GUPB$:@PG\`R#N[H(R.!6")%0[B`-A>C##[RJ*XT:DXT$&51"W5H
M':=P"J%8'?$Q%&*C9000'F]QH:=RE38E*!%:<F+'5UGT`PKB:CTJ)"IJ-835
M$W9'6<U&`"Q"$C8%,0FDD7L5`L*'"&*G(8W(`8$7#R-)I/]WI'64I";#!DS:
MI*3Q,F'0`@6@`VZ@`V10`#RP!'-P!7P;!G[[MQFP!SWIDV7Z`!4XE$19E!O(
M@6V*E&L@`UV`7':J%Y]S2@3G?2MB!0JB*-'P<"'EB@"P<%_AE2("*!VPA&4Y
M=A[P>L]@(?)0-R9P"KP0%CU@(K0R=3U`0WGF=%/5.**%_P]Q.84^T@Q*!#T$
M`@&2<!U01+OXI2!AH02.";T,`")EIXG>BC52`PVWLPE,:`M.ASK_LC<C82$0
MP"0&T%;%9XA*.RC,T!=10(U>4"/6&B5-`DLED@@&T``,0`;[*4_A.B->H"%M
MB;P^0F1H(SA>TV-E053[TL!0ZS"/VA%RDJ_462.<NWM=5<`(`1$LT@T(8P!1
M@+4>42PN,`9CP+<P0`48,"GV@RS08S:70)^BJAW]HC>+R3DGEPI@4TT:H@89
M864O("B8YIX$XB7PV*P>*V`&T0J>)0_M4`<7NC#Y`*2#0B7\PG42R5A1`!<`
M4`.<M$EBMX+&M\2-6@X[RDEP,_\"!Y0P[ZNK4=R1'$E-#00/\C`J[\<,95ND
M:)NV(]-MWM:V04`"@;PR5S"WI9.W5Q`:6["`BXQNM2&!97JFB)NX&<BFC9N4
M,S`#:R`%1D`$7,`%'J!#J?JB:",&J=*Y*>!!X`$!%@!>)`%"#`!"'>5*@T`C
MLL*(3:"A&P$`5N$+)>`!.B$/86B"O<(EO"(1EX`V:LE!_XLDM[,*$C`L<2)C
M&O(0S8-,#C(BLTH*()RJQ*`&C%`HHML#=6C&1'$13W</AK8@,Z(/9:$D*=`$
MY+*9_(*RT]0O4U1\*;1!`CQ"3I("3C(FC$>)2@`-@S:ZM@(`1<`*$X`M!&S`
MUV(XX$'_%FN9#!1,"P9'$IT+#0N'%H23KT#T<;.\)W3X'JB#.K?0`PJS)UR+
M"]G%06IP.3CR`B\@>?#S!W]``IBW#?33?"N@5X"6)C'1*Z"58!RP%U9R2R6@
M!DM=9&V!<=6D#!%'4#1[<]GHL>3@>$-&A`MSH9C3U>$AB4VD#+_G(R[&#CLK
M'IT4-U.2=;+RUH@@T8-%)3Z2"E",#'VB5WL%QU.28G)V5&^`-^%#MD.JQVB;
MI$JZDH!,&F=0`'X1`DMP!4_`&E>P!#Q0`+J6V62@V9Q=`$Y0N$#9&VB:IHH[
M;Y?<IIF<VC/``I'[R5SP"3Y"-90EM@C3N>XG"B!2``;-$3/R_Q4-\@P]4"-P
M70=8]0QCPA=*U$YJD1Y*X4D(]F>-T[NU%V))J"3P07;1/(/W:R`3D!#Y50>]
M,"+/RQ*$0"8$4"BDXDJC^WZ?`X86!SKHC%T-4B&IJ&A?`1"T,`M_<7M=TS6K
M>7YZ*CN-TR\)H2B"4+_F>U10P`!I@'!*\F%84`1O_80>1#%1\#5[`L*ML"*:
M>-16O"_D9=_0()L=,95-^`DC9``(4P(#4(H^XA&CDE_RN<X<H$`?-2,3X,/<
MT@E'K2>]1Z\I4`TX'5,Z305/\`398"S[``G-FDU8!H1T_95>XQ:!4WN,QPH%
M)@'TA=5?XI&;=$:C9!8K4,TF@##'1O]9?'4J!QDFK"!@K_:))4"WMM".9"</
M<4!R<'W+=-(*F-.B]X$HWDBU4X$Y?-6LA?C1C:`(HE".`I''9VN2*.G'2\JD
M?C0'<ZL#!7`%JM$&+L`#3:`#Z6&W(;"EI%[JID[J+?``=V`;9W`&ZB;)DZRF
MEGS:'JC:JOT%1I!OGVPELJ-$4I'+_+`"TT9M`AD-L=PB`/!QB;416"#<MZP1
M(>NM05%\0+$>(.I)3O/<&V<=S5-#ON.RYC`L6.*A!/X@Y0K>'M8#+;$!#/`#
M''0+]^$@/8`+N_`#0V#O<HD%A/AB#0T`$_((4O51;F@`JX)0:;1%+NJBG`1$
M9$=1.`$LFN3_`2MPK,+#$EC@)#\X"FDP@_WP.,[^*LH0"=`V;4\H<E62"N2@
M#W1\XO+!+^"`,*R89M-SX@WM'I$``+L@RYOJ$..*#M>G`(FR`9V%)5C39"R;
M)AN7"=#]-:?2/B[0`DX0]6-`!0N`TRJ@#<4(!UKP`CQP/RXU2H/2WQ+`-E42
M)HW:;T&]1DU.5NQG4ZL`!0/PU>C44@HD7V8O#SX7#/`BB#-G]D@5U7FN"#U1
M>S+!U-*3P/<PMX?@+@L#U%K1+R80![_66)C3]38Y#>[C!(Y>DD<:Z2K)MH`<
MR(.\!&1``TVP!&<0&AG``W$`ZIANDRVPMT_`D[75ZK9O^Z!-@;PA_Y2(*^NF
M3>MN:NNV[@`HH.N?K)I\E:$C7PP<U&R#:J_/P.XC/$(<<=UOW02A.2Q\H<]J
MX1V[4!U&A.T(9B"-@T-4`J^NA#>$:"#O.P!B('8,JCA=00A"L`$#@.U.(Q%A
M@2L,`0@]``Q%4006)3TK(W4CCHLE46\C/098%@H$!`I1F191DF\6GQ9OH&\$
M:ARK'"4C)D4342M86`P,*4Q**;<I`!8C2@Q"M0``(P2H!*"2%B8K7B,24:6S
M$,D3'*-U*R:?FYF:XN.:;QP0'1T&ZQ+)"IGPSC6N`"L6Z.H0(UY#T3TFSYJ\
M4>`!P(8?)5!%F6`"0HDX!"9,$&7!@T0H$_^*:)0XP<,;41HY-%EA((46+2Y2
M.G%"Y<\?)'^HR"SC)*5-+>M>0%C%T=#'GQZ"6H!2:BA1#Z.0#@!@H(`!"!6A
M0#&QRD2)$AQJ-.$01U+0KV#?>)C*00('30IHN#GTZ>,X5#_CRB7@QHV""1#T
ME8`@P82$(D\YO#/59!V$`A!<+%GB8B4,)W,BPU#Q9\$?%2M=\%A@I[/G"J!#
MBU9!NK3ITRKRJ%Z=YX#K`VQBQPY"N[;MV[1)D`A"8DP!&F2N8!A^Y3<-'3S"
M#-^R9?B9/="C2]^3)$.&/=:S7W_`O;MW[])SY$A"OKSY\]K36Z_"O@J%]_#C
MPY]!O[Y]^VNR$-G_`8;+C@E0K*!.!SU(4,(*)4Q@`0<=U9#.+08P!4`ZZ:1`
M(0,C_)0,*H6M$V$')M2E@%UKU0``!(N,`*!4++;8(H`667`(6O`0\(,:$_XB
M2E`?C0(47$%!X8$7&Q199!$N2B7!`",,,00`/7C1PY1",*#$1`3L5<<`=71Y
M53>E2""(`2:@18"!$I1B"C/,?"1)!TSDDL*<*6#!BP$2=&"GG;DP8.<M@`8*
MJ!`WJ&$(**,0T-`(F)S93@GM*'B("7688(I$X)"C*5UOX+/.A!WDI08F45AE
M%0`<D$'&.:&6X*23E%!J``=VF;"!&A)(`$&7!I1@`D03>#&`%T6(Y0$V_Q*%
MPN,H&7VBT0#/FL#0#QOT8@83.1TA$Q4DY!%;#*6Y).X?1[QPT@L>/E6#5C6P
MPHI43#75Q%`9755"#2OLE)4!9"1U%%)@'2O6!._H4)==;;5ERIK,C,+@PUNM
MRL$+<VK!A!DHP3"NN"K$1@*W'V,@T\<PF`%'G!VDNDD49-A%`&>>=2;:S!6@
M9G-IK*WV&FRRL8';S[?IMH3!/&Q!@A]S_(;<'&<,A\$>+?!00`%QA&#UU5AG
MK34'/.QQQG=@AS?>>627IUYZ[;DGW]H4W.=V?6O$+0,*5NS`!1AB$(%B7]UD
MPX&T%L2A1)%8"&(0A152B(4$;L6U3@\01`C!B/\CNL%!OH_4X6N24HTEY%A"
M*6C!#^*\H\!>&P``:8\\`A6PBR7X"8`0OV"4D2/]],./,3W<T$.55DZ3KPG"
M#K!"I8T49<*4);S3BCYJ+KP04J=LV(2%'6"?C@'JO-%$+7/BPHLM0@B1AA+"
M*)&&E<,8(P14U*#BR`A0J8%.'#\`P-9'4UDZ2A%4`4<X-(6*NI`A<I*S$,52
MP#T#K"!?<7B##LCP!C(TX41%N($&G=0#;C1A1*/[`2,`H+EN&`A9#/G(6`8F
MHV5\!2.E:-U7WB"!'PAA`P8H$@-F10`R_,``$8R"!!A8@ERXX`5(1.))EFB&
MQLS!"3"PP\;&184Q6/'_"$\XPF-6XA@8P.`*5X`B#%K@@A:T@#%DM(D:U;B8
M-JK$"2V`HQF=<`4OVG$,;)@BQ^;0`CL^Q@Q<=((67L`#)'(E#JK2AH(\4(0O
MI>M$\RC+)R8`L\_0;#0WLUG.5+.SG@'MD[K9`@]TH(,E;,$/;1BE&PK0`BI@
MX`Q76$(!0D!*-Y`R#KC$90ATR<NJ^7*7NRS`',`6MNB(IVS(/%MVTJ8VML7G
M;6^+FS2_T`4!B&$'.P@!46I`%5@`1$$<$`86H&008T1H'11:1X;@D@P"%"9R
M*`+`&PZFJ_DYHE)-Z(B+*O)"C+`P"FI0QB8D$"'584D4<G%=DAA9)-K=8$F4
M_P"`!D<P@"@-X7<WD"CPL,"$7(W`5_O8$@"[\9%<*6(@6>*+1]R$"@N(;A0^
MX1#V7C"@!J)"#"L0`)\&5;[U,6!]Z[N!%R10+V_X2`'<-,%'1S`28W2`<4":
M`..H(1$.A&)3RD`%#8Y3`\-D+QWHHMA3`J,#`NC@(^?PE41]-P2$U($N"C"!
M&KQ0`C$`T%<&(@,!BC"`OL;07T51D%R2HD*/3*`':*#=!K"P@0Z48'0?XD"/
M3@2,DC0!8%+Y1+_FH161K&-J3LF)`9!(IQ?``0Y:0&U*X-`8*&+@8T^@0FR?
M0-O8;NNVM]4-%:)VDL:D9(E)#&ZZ/NL4=%DP7Q`XD?^'0B4I#WCC,`8[Q%?P
M`@$3<$\=AD'1WQA729E=,C29U.0F.RF;3^8F:!C@@1M",(?AM(`#.HA#"\Y`
M@C.X0`,&BV\!EC`',(;AOP`.\'^O`&`KAH'`5YA!!A[P-083,SS(3*8R,\#,
M9CJS;="$IC03X("Y66$_8-C!6``"D%A(H)S%$$(/'#&2ZVX/`%C:4#+RHHCD
M6L"`\[M*EU8@V7+PTW.=$](TWK!("TR#&F=BBC2BX)%E]"AZ08*"1J(\`<8:
M`TJ&,X:PO,#E)]%N=H!"'XGY>D^-:*X9WK`4)XQL`J]X`!1G^H%+WPSGC[QC
M!33=WG*C8)<WA*#%O&!`8JO_5*4TK.^QHX`I6PSAAD1/P%X`(8F.G)P-L4B"
M+3`U!(W<H@DW;-5R3X$`Q?+<`8I%+AT00*19S;$"B?1.@S<8P0K(,!@+%,$+
M4E4#I`ST$!/83A8@D<@D^>E280>,R/DSQF)35UWN86$=DC5%7ES:@Y0!>2R7
M+I5+U92HN'B.([&(Q5!<JI%GK&!=3UG5@E35KP6YRV^KJ,'45'T(D4!@73)*
MJ`0U9(ZMP%=1`+E7'2)'D@+P<Q(Y.0M%@M2$R($JNRH[$QFZ:X?O@C>\I]ED
M:U[C2?/B!@-#"\$87CNT5=(7`U?0@*=#P(/VDL!I3FO.<C#`'.;H80LW?\`6
MSL#S_P8[>`_$?`"$(TRV"5.8F1=^3X8SO.$$.#T!)Q!``>P&AA``\)O92*XQ
MYM?7O2#0Q1`(A89J@"))WS@*]KI*#THP$L&8[@TL>N%T*Q+#L2A(#6100ZAR
M50I--.,'$Q'+YS8B%8X,XLJ&&T$1"C<L#LX.S+=0@BY\-0"`>(FOC_V(5/N2
MZ+^XE!IO%L4&:I!H9I3.+@U,5RUNO):/4+`.M[A!^6YQ/B74`2FE-T5;WN$7
M!3&D"/?NRS'&X5)^;YL:,KKT,OJ^";74)0X;0`?%*"36KZ\#(IGHD01&0"@T
MW*`$M!;'&_JJ!H`0=2^+@):492&1C0ATX:[SR.@R"H!:G/_3*R&H`U-ZC'#?
MX\E888$*HB,1/0(7A05DA0<%8B%X&&$\^R(8I_`.F_9C"_@&5!$"$4<1[L8R
MRK<IFF`!(U$`%&1Y^=)P#D0F%4%D$X)$(LAD/T8`4/`AHS4KM'8P!,`!%&=Q
MH(%Q&3=>'%=>'L<;M<$#P/$$+T>$9-!>KV4<+?<$IS0<>R!+M$1*5%B%5GB%
M5K@$W`%TWS%T1&<>1E=A28=A2^<V3?=T3M=A62`&7'`W.V!7[7!`PJ(@?"4E
MKT`2Z0(B[Q<1LE8/]G`ZE4=BZ(<@`D000<(C`!,CG!(DFE`"3/$-<+8,9.`*
M`>,!T,)7"NAW$)`Z4Y)<*J(14'+_`TXB>Q(5>9(7)P#A!77@!;!P.Y9R*95R
MB$60)KFR)A+`!!U%`-1C"C12.0WT;.N`!;12.3U$!K*'!LC84U7B/]%C"FG"
M#`8R"Y92*A,P(?H@9QLR9S^!9(B`"*IC(//C$*50.5L5!]Q#)Q9RCA[R`GAH
M`-&%:18P`,<H`7=V%E$@#7S'$/BB#X+0`P/`9/(W`>.@:0<8%%&048:#0_0S
M$._09SRV(0,P*QX05Q``@*US:8GV>>VD4$G2=PPH95Z@.KOF%W"U"77!$PH#
M4#\``7K5.-00"A.@!IM`#AIB)B21?>:6%[H2:L7C!9&31#4`D#-$9.?(`V10
M5B!4%#FH_X,\:!H:1UZS85Z[,80T4`!A0`)[$`=5^5I;4')6V1Q;,`<\$`*>
M-D&@=99HF99J.34\\`5!YX5?2!YAB'1)5X;1%#=HF)=.QP)&8`4AT!]!00-O
MD""N`"`3T%=%T`3<@$#'(%`?V"4[!E`4]1<F4'DCD5P,^79"$G>M8PIQ,`(S
MQ`'&T`YPU4(K*8X\<H]3LF*>ME6C<V6J$PN'N10.IU$]P#[HPP018```=(G@
M5@("LR32<A1$EB;.D"GQ\V2<5CEUH0/HX"$/U`0'<S`64#Z)E5C#H&(`LXV(
MHH$=``!E)43&\`F7DPXE(`Y(]A.?($2N8`"*-RRN(&NO$`4UH/\#Y$@&W$-:
M<W)=Z7)J3^$31N9[1>`CFL`4NV:<HY,7.Z$1&Y$,+@55R<!DWO85$?5E/;"2
M+6,Z(Z(6Y7`F$"!8"G!O%KE2AF"08K%MY6`L09:`&\*`L<`E^O`4"!(',C(B
M;]`N9"`+N8)W$K`N]G@H_&8(`_06!.I.K4D`*W`B#_0W]5"97(9`242C/[92
MVW=O1XF!RV`6\["4%M>4.),S.\,S40E*N7$%;A`<]?4;!4!?HF1+2]`T&)`T
M.G`<!<`#+4!@-9>GS-%S?,JG3\"GT!%T0F=,<0F&$R:&=6F7]W&&>HF&#I`%
M1K`?;:@`NC(,Q'(5E'F9\0(`I-E.%K#_`C!Z(AV`CZY@F7DQ*QHZ&$(B>-O9
M(T4`%H[X6.#0+YKP`R(T`'%14>Z#!02@%J>3.ODS`H7'5P,P`264I(,@3@R@
M"TQ`426V$?$(56\`0+(`#HWVC)]`(@=3:WW7D-LJ!J$F!N(@(@=C`D(P:&@0
M>T(@"Z'@$R_9(^@``%HI`4H@!W*P`=.`""N`C426;R6%*[FB`,Y0F>$H:V5"
M:_;9D!:`.`O$GS,(3Y%#5;GR%Q/+=R,`)?8RL>A`>LA7>#TB5<J@:>4`%A4U
M`AD5?2N)"<S)G'UV)@QP61-Y#H+Q([RHB_F&>YN@0G''(@"2HG#W:ZI8!XJP
MF`8;!YT%"A,0_P<2H`:>YFZ2)0FGT*X^L2GM:E9;10,"2Q+WAA5,0@DCT%7H
M,EHOP`%$08$>H&LRN6HEU03K4@-<>DE>^J6L$:8=!TJZ$0;P931G\!M%TQLA
M4)4G-P<<H!96^5K+@1UC`$:*N[B,V[B+ZP!@M&!"-ZC&-#:%:G1'ES9C2(:*
M.@.,VJB.ZG070`0A8#<A4)E]E;J,0'8(])TB>P@F2"$?NGWV9`$A0!)EDK"F
MHXL*"("KJD+&XA`2`*SM8`@'Y!#^HU0`X&4&P`!GH2KY0SL2`&1]13#`T"6M
M4']6$@&XR`2]60*^Z0R:QGHB0CD3JR#M8#K3*;"[Q[("6P(IHZ'BI_\)B#5H
M5>)]&2()(*L`%%$.(Z`.`$`&$A`!#6"O<M``#/`#:(<%I+,,H:`KD8!VH``+
M`_`#4T).#I$I&NH&-0`'*9!GTX==DO-94`$6PRJ;%X$1X<:@+RHLTL)7[0!W
MI)F<0ED1%67!Q@`!^<-G[Q`%+&D7PWL6?I<"P$D]=)6A$JB+<#&.R7`L$HB`
M+D*3=A=NT?!`JAB?*P`Y"'(@*Y`K<#41Q<:='4H1U)`F)2"3:U$7G]::;U`'
MUQ5VA3`!(V".ZSBV23%#N?(0F<F'[.*V,5-Q71JWJ0&F4.DS9$H">%``;C`'
M1T@#/&"$5S"G?1L&ZH4<P@&%LE0`'#"%6-C_R9Y,2@6P'90+'<=4J-4QEYJ;
MJ)U+'Y\+NGKI`">``AH@!F``!B><)GXV<`A$C_QKK`^$3O:P)"[L%Y+``1%R
M%DD\DSNBHE#F$6(BFK"I.@"E#R:PDM_9)()`.^.D#+'S"XQ4>%PFD`30")7"
M)2.`3K8`8PP*"[.H$>N9)H6X9@B:*W91.94#"KK"LE@+"WHUDV3PN@0`:^=:
M)4,@!*]H>OP[#;6B#D),P`;<`!"M!,+#%_P[25:A";JBPR5@J_.S8A#0!&8%
M#KIK.>KPP162CAZBH`YD#R[U(N"V$1SQ:QR1$2M<O5Z,4,J@OF*"PP"`$"JR
M,`++;IK0+B@5!0Q`_WH609_/)AC;N@R:\&8S:28C"F0Q)@Y`%FXKMHKRN25>
M<#Q<XB5Q0"MN(%BBH&E#.K])!D&,H[Y!;:-N_!0:2'8S&%ID:[;3<!4#009A
M;2#KT@1-\+8T(\B#/+>%['&ZX0(Z4`!',S2%>P5'R0--,P=QD-A,LP5MX`(B
M2(4AP)8\T-F>_=F>+0"=K0&CS0.D3=JBG0334;FF?,J'2I<7MLIP@Y>N#+H.
M<-L.\`4!0#?[P1\`@PED\$!)^EAF<2\/9`4G$I.L"$#BME)U@&HT6E8AG:5J
MTJH\`BE14!A7)@0_8"`04'D`P$".8#C:C`6:AG8383L8(2S',F,?!2TI*/\*
M*QH4&0$@XU9L&G%I`ILF+R4!]4PY=:%[[3"=;C"8Q=L)R_-1<F45&U0^6"`$
M0\`HI\!IU-##`-'>$!`!&@[1#:#A<L`$5]8\2IQ5HL`010(E'^4K6*&[J:H`
MQIR'%,)`RA5J"MIJA3?3,RV;#(H1-\XBA-=^`Y"1=#&=46#!MFH,"-$10B$C
M!D1K"D!!V=<!02E_%L`4H<+B!(D*29Q]K\.S`T"3/,M70Y`BBY`B7?((C(`5
MGK86/F)I4>V!2"$*`P<1R*E7%-07'UWBPS4U[2(Z,R1$:%<#%.2CC]8$<6#H
M@#TS@NV#/SBF0$,"3T`&(6"$<Z`J5]`;BLP#-#?_!T1S!*_4`DK#<G,0!G_:
M<ZM-'>4!'=:!':S^!'MP!-:AVJ>^!Z5\N:C<'F,HVZQ,V[7]RKB-VU]P`EWP
M850'!<F`+RG=0/%B&!LM0C\PH#[K`6*;CO=V;XO@GD-F+,82CW!Q08AG%=75
M$`0B)1*UJUA@`FO&(TAB$<0J4'*L(N)7W5_Q/Z^Z[;;#H,(VL151QG!ESP7>
M%D-.G9&0:,NSW;3CB*)(:/W0)C'LP'"U0BW%`!H^\1W.X0?,`+_03A_(P\G`
M`3CTH47`5!*D`/;)XBX^6G%0`"*,3OEPJ@B$+S60)NK-XP`2"SYN\SP;YBNR
M?LG"LC:292?"*)48\(?P_\]1W0$K(*%&5FT\9C`%M)%"VD[A@(A),@*"$=51
M)F45I0]9G,7Z\`@KU@3TO%79=]Y1S6D$)!830F_\&WZC(`$/&135=FI.$4';
MEHC,<!44-`%;4>ALBX,QHX,U(\B,[AIU^^A$N`1X0`*_L02ZP;>Z4>EN8$H8
M,`:JQ$IP"G.:CW-WT/F>SQUW(*C@<>JU'I>8BZC.I.N[O@:]WJB__OJW?0)&
M,,MVPP4<@%,D,2`,])S*_BG8+78DK_(TA8[I",`ET+LK]0:CD@EGI=W&8"^S
MF*1]1=ZS4PL]0*ET=Y@V?VM?KO'2LI';V3I0X)M!$M/K]RQ<-IG,<F-L7>`+
MT?\):EP7B-!#HY`ZCU<@=-$[7G`#E@H('F]141(&400$%@1NC6\>B0022A&5
ME@V8#7(-E0QJ"HD6%HB-9"58*1($@V\ZH#H$K@H*9!`&MSIO!B^WO1T=*RL&
M$,00P040$A90S%`3SL\3T=#-S!,>'M9%U1-%$XR-;B4]`.4;/R43;X_8V`KA
M;I)DLZLE'!:"'B80'&XT_V[>S'JS:L*B2*#685O&+)L^`)$2L<M6I,B`$3W(
M930VHDZ=%77(*/)'(]*@501`K8H"2J7$=8\`W((@DDR4-_'>3.!'`%N18;9L
MQ5%D81TAF&^*U"!#P\T$"1-,-&D21\<".UCM5-C*M6O_!15@PXH="S:/V;,'
MTJ9EPY9-D+=PXP8)HR/.$Q)7:!0X0Z(%C3A\KX2@T0(#ACDZ]%XQO*5-BP)D
M$O^;3+FRY<O^XK39P[ESCAQ)0HL>33J#Z=.H,U19S9J"Z]>P9\B>3;LV[36X
M$^C>S;OW;@?`@PL/_N5$``%B=H`!LX-(T!>\#'0PD,)`#6'3I9<@J."?#NHI
M5O"R4D##"RS!AHV00*C0#T:O"'`PT&.$B?42)$`8X<4+N7(`8@&`"<_XY$U%
M17A1A$FK"+*.05`X*,@R%G3CC3066C1`?P-TZ,40_+$7Q2>SO..&2C?-(D$)
M(_Q0S@@0_&#"#T5`TEU3-)1P_\,`0S`P0E&(2```!`>I$DY+LY2@1!I*,+`D
M)A%D8HD<$;P710DEB)((`*@P8,`[*35BXHFQ=%"=`07HX$83MLQDRR_!&&-,
M,"O4T`0''BSS3#707.A,-A'^"2@4WO`Y`2(*J)$1@``,@`\V2$$23E,Y@:(E
MI(^80$8C!(@D@1HV)6(02PH01$`4C[;3CC,W<.#2*H$2.L$0]9&S7QTC@+1"
M8B/1``HBJVA9HDOT1(32&TW464,-''2:4B(<-)N/&,.L4$`(9)BZRCH1[12'
M/V]`%6T<FUZ5E5?HDJ6N6&>AI59;;,DE+P^$X7&&#F2$@<<5.G`0!EZ1+4'"
M&4O00/_&$F=LL<42!?BC0P$0%\!#Q!17;/'%$//PQ1X/=+;'9Z2%/%IJJ;%F
M,FPH4V#;RK7AMH9O,/LVW,S#??$%"P)8(0887.P@!A'4[?++"].]D$('$#3Q
M[#LT2+!!#06\84$()>H00A,>U4&,!3](\`.))^:B@Q@`8%F"!$6LV)]__RV*
M!18C_&E!H<Y\^`V#D&*(:848=N,W@AY^.,3@0W@Q0!$WW22!0(F(^6Q*V8S`
MP.1*--DD&CULV.$;_W`@A!<W""&*"9R_$:,JI,`33THCI.%ZY6E$&8$<M&="
M.Y40J"'!>D6!PH&=M"#-01S+Q@%!!R\0(-YT-=`35%`K'&__'9T?T6D"!RO<
M1$W?TTA3*#:"-B.--<U8,,`-(Y1SP]D*M0-32I3Z(Z9(4?!.B`3[K/#[4A)P
M<&<B"O"`-[15"`L0R!GD8X87-L`2DRB$&17Q3ZZ,T0-C<$`@;D`5IS@`K)6D
M!!3A.-4BBM6M.S6A!E5QED2*`A,/1&\%37A5"U$B"9ITIU1/H4JSS(45='5E
M74!40;O,HI8#P,LM\H(+!MS``;X43&!;*``-!'8&*?*`!"3@@0YT,`<,;.$*
M#7.#Q.80!@R0P(M83.,9#</&-K9187#<0L<\YAG0B$QD)$.-R5J3LM>P[(\S
M<%G,!JD;FAG2`39+9!:,H($0[&`'_R$0@]9Z032C\<(""H#%+&CP@PT(9"#S
M.)+4?@>!"11`#6JPP)%B48\2F.!L3QG!AMB6D1[<P`!88,"%O-<W+XP`$A$A
MB-3V!"F^\;(BA[/("`8G.,(-01K*8`4A7$*F#P80&P,0@C8G-SDAI($!VD3#
M#0A@,`!XH5%S`X<"1L"^*,!C6.\8P9*85+E+T&YVE<`$E=)`)!.@$AR3X8`E
MS70T@I(K.W&8Q9IVT0L#U`D"`,B51^@4#(]PP%>*>$I^HFD28^(#"D5Q2#;V
M)#Y:_:`'/QC!H4HEBDBQ)'[Q8VD=3)`?#ER/`W6XQ_\*TBP<>J,HDLC/`*X!
M4EE9!'0FB/]$2Q_HC"*,X*FYJM.F0#B(4A@`%B8AU8UHH)-/&BL1$EA6]-*4
M"&"QXA'K*((%76(J;BEUA$T)EU2`RD.M^'`K05S7$/-0Q",F$2XN(`P)CE`5
M+,Z!!CQP(F*/0(+#ZB`,?MA#P=S`@S:P<0]AN()F-\O9SGK6LPZX`B*OD`$Z
M@NR.(<OC:?:XFC[Z$9`K$R0A8W9(FB7RMBSX@@P$0(00\,QG'X$.=*9#C!7$
M(5H00,,/FO*.0J!*=Z*P0`T`T(1:I.@=+C&%V9XRHPUA)",W"!`6M@%!!$5P
M!-JB(0$,HJJ*-!5P%;E!?VY`W_K>H'"BD$911M$IQ[U!=P#<%D[_W@``;FY3
M"`Q`@S:%,(*F`*`'7C"(ZF:D._DU]W%N@``]F;2!V$5)#DRBG(=GUX!W?,HR
MH`C!U0H@-.2]@`Q-N$4_,OF&]-SB%T@CQPCL5(<2U&$J0&[$B)J`OWN(R`+S
M2,C<BO"HB2#PR1XX9SE^L(AP$:`'0B@!=J5&3H"HS@T6@(H$[G0]5#&+`":(
M`^-$4:JD'.Y3YY"`!U#5#1YYZ+X].,A(H>#D9]2G3OV8C#\V20`(O,`5'64$
M9110B*]&H@05M86K1%BJFR#%=!#`ZDLDLND/HHI%%V1:7>^*U[R29:]]A==?
M@T""-&$`#WX1&!X:=@42T(4,8\#+%KMX_P0-N($,+=B"%Q\#F2T:^]C(3K:R
MD<T#T]H1M2-3K6I8ZUK7P#:VN9DMS&H[L]M^P0;?MH&X;2"%G"6'"V"(I'B&
M2\GI<)"YL[!`*DMPBR$9(TLUZ!T\Y>-*+#U%#;+L3T:&$%Z9"(@:%DFX153Q
M55/AXQ%-;6HR#U0XP=&7X*2+;IC5,8HWA+(4&]@`!UGXP8#T@`%O"V<X;Z!@
M?ZR`P8N;E"24JX;5>;DIK'O=/.G)B=>EH><ACL!4F2)H`(II($U`7@H*$(5A
MS'@6`I63='Y1;Q-(Q1Z_,V$4[B.5FBI#<<0024)D=8T^5\,#`P"0D>*A@"(`
M0`@0N.$BY/=E1_\H8P(F;((H[J&3GIY*P!510R>98``3\.A#/.J!X<$[@D0\
M&:0,L9"FM@H0RDQ@%VH*)N5I<"5,!I,@%L@5,H22$%0)&"E:F[2CU3N(?61K
M[I,9-:E-/9:]\O5=JO[K&'3`@[>DZ5_\*@`)MD"O%I`@`PTK3!7=$(?%M,$%
M'-AB""3&@^I;__K8YX$`JJ^!ZF]?^SSH?O>[X&QHET;:K*U"M55V[99E6]N]
MX7;-O&VS<=N`!?@/0!=XZTA(BF$%5@`!`=@+-`%O`Z$.)E`VH@`^4,$2)T(+
MIV)UKW0V5B=+]9$^_O%VN00`W5`A&Z)P-;)Z,%$4#=$W%5%GS50X!/?_3*$@
M"H0P"BR$9$?B(FI0"-R!72<B!D*`!0L6.D+`<@Q0`C2@`QM0`J<R$%$P`#^`
M!LK%9%U&$I2B)$RR8;$#8I<08I/S31^D:"=R)/`T"V10`,@3!Q9@`$WP@*!0
M`P08)S)!'VDC%34@%=?S2OEQ/?@3!XFC#!!E``S7$W[S<!`7*QZ0/@!0@T7!
M=O7S'_OE3B11=_&@#&+6/X-P*(K`'E(39@U4"&JP`68R(('C=A"0#@0`.A(0
M0.1%#1[@-YQ3&6SW#PI@"R]6(B@!A4V!#H\3$7/S$<3`8I"Q0C=192U4!T.Q
M>MM2"/CS`TG&-+%W+J3V%;07%K:'>VVQ:D%0_S!G$`1;\#!GI$5ST%C]8D8%
MPP-;D$6*@0%MT#`/,P='<`;L^`!GX(YSA$>GL0?29AI)4'[F%QKUF'[KQW[M
M-QNR!7^\(7_"07_U9W\L<'_X9QPH8`6]]4@[P`%$P&*2=G0*%2[A4@27-@C*
M``Y$LB+]1E/X(TN#@Q'^(2`G)P3XHP8:,@$*T@T=9"S3E"=_@D`6PB/.Y$P#
MP&>7&%VH@BJC$`4_T$`*T(>85"*J`P7:9%\_B`9*L`&)@(Q!Q2,LQX3KH6B5
MYV4F4#FP,X6<0`D-\$U8L`':M`%*``'P!A^-`!"@(!*J$P*XP`$%L&_"T`O*
M$CW&T`U-(`8V974E`/\!$BAF)H`((X(E(T!U>-@3T&`03(4-$Q!>[#$+-\$(
MBC`"15`'6%`"J=AE7O9EX4((NG.)&Y4A^K6%0NDE*1`>WF,"3D5=*5$$-]`#
MB'""UK`GT;"*14<2$U`T(O$XE)<H`#`/P:11)E`]Q.!T9&`3/PE4W%(APMEP
M%5*'^!-W#UB="L!#S>B,SRA$J+86N?=76H0'03`'E$4"3U`5>$".QM=J.K`8
M=!$"751%-`"?:\1&<.1%<'0'^KF?=_``_OF?`/J?'#-'=92/^HA^U+9^_W@;
M[R>0A420P&&0]H>0^%>A="`%C&0%RI%N1``T-6"=V,5!['!ICKDX"C`,KS3_
M`*_$FBL2<(4#85PB!!Z`2Q(P`&KP2H;SD@81$2J1$*$@4M*P(80C7\[4`S42
M(3IA$/MU*&&V"$KX*3'Y24A9G6]0!_4U!&A`<$H```H0!\$I`1]2E5FZ('77
MF1+@)*Z3IE&R)$H@(&_W@PRP`0!P46P)A?'P@'%0`EHE)G9"`-BB.B<4/018
M`EA3-M+0EW>")00Q`2.W.)]F;S+A)>N!*K59=LN0)R4``$/)A1CD.UJ&/ZG(
M.8WX3N'P:3^04CAJ."?H/<"2$`7V"T<#`1U2$;D"+(\Y!$-I(0E4*-+0.#?7
M%&U"ACVE4).A``.P`=\B8(4@@3B%EX)*//:@#$4A_Q+<X@&N@E&/(S5H@S8T
M-0$CP`%D$"T<H`9Q$`<FD!5V-7O;R9U#)(WQ\E=X()<DP`9IDFM+4)YL@"UW
ML02\YP<8($6+$46(=088\`!S($67D;`*J[`:X#&GE8_[F*#5MJ``V:`."J$1
M2G\3.FX5VK%T0`<R(`-2D`6-Q#/+82-H"(8O(2'YD"?>6@(548$J>A\!!V$?
MLH-8H`X<L%$#4`)><*I#X"B]$V"WR%)2<U1KTQ\YZ04K<*1YDA\LA"K:N@@6
M(%\W4&7.]86.\PYO0'"@HV#\)"0$`)L$=U]>@!,*-2:TV!118)9<N214P@":
MZA^^!`!;FJE$5Q*;XBMD,/\*LOA4@WD28)(2K2`_R1D,_L.&!@``T>,%4&$0
MC-HLSZ(3?UF(IR`=;0BI<FLXT<!D4N,!:@``[&%-=UH2H#``["$*4,"(.%*F
M"B`$&U`?WJ4A'<*:`W0JB/`#7G)C5%<?92-,/5&V/4":W!`-3`H.)-%T;*(#
M)5`#D2!S/W!+=@>Y4&$"@"8&)Q04/?9*_`-4VR()@48FRUIG_A1-)D!U!"@3
MZ)J=Z\JN[>*N2/17B(5%(1`'Z5E\`R-&9U2O&-`"VG@']%(`P@9&0TA]V7=]
MW1=^W+?`"JS`W2<Q"%.@!AJQ>]2/%"L;%BN0&)NQWK:QXM:Q^/>Q'@NR`<!(
M!;#_`UR0PL,"9C:U."3J(.'B2JQI>()9LQ7')5A`.E'P%$50@0"P`>A3(0>!
M$%\U-RF8DV:+((^[2])`4U66)Z="I#=0<_JA55](#Z#@DH-#7TG+3#N)02"J
M.D4'`%/H.@W``"80G3WK(CT`B9TT%+_6#T%%N@KPESN6'S;1J=C5MS6`+[:P
M`E:7+#96-CO,`8PZ0N0$"OL``3.%4Q`%44,"`$A##/=0`C)R@H*'C(A2+#BG
M(N&5QB"%$Y,B)E'0%.;3(8=#2SF*RD/U08/`B5.'8RBJD1,A0,)K7N(#4G\X
M"*3P#_AC`LW3`P:P*6OI!A(07A`0!TWA`9%8(?X#9->Q_[W*!`#,TC]'H2UL
M5HD22+O\)1&2)!T-M;[-V+Y[Q0;PNVH8,$5!\`3:R)ZUYK]7=`5D$`)8U#!=
M%`:1449C,!@%T`()PXX`?08>PXY[0-!/\`1[<-`)_009<-`(S3$?DP,2#+$(
M6L$*>L$9/$@.\!L;+*$>#,(A3`<L\+$?&[(A&P`HH`$:RC-<0`^_PYH;V3X]
MJZ(J>C:_7+,V^S8Y/`AAME$8`0#RI1/>^RHN$04YZ4SW%;0($A50`5)WAS^H
MJQ`'`6%8NAYOD%0KW(7O-`M04'%*NS9/02IA#$`*]4X:9CD_IW@;I2A%V--]
M:\DTL0H#09F?,CPK,$%E8S9DB/_'"9%D9'`=@(9W%84K<F8!AHS(X3`!^E,$
M]Q`M4U&<D`:8]]"WML"XAQ)R-7B#('1T;Q"]PPMYJB1HOF*#&7)4]0$BLN0A
M'>*H*[$!X"S+MV`"J@(3+EE?$V>;L<(,[9$?:I(?1:!F0G$D`X`&YP`JINP]
MARVNI`2SKG01%60G_D.MGV<!)7`XM3O37X<0EE('4V<`XJRNVUG.YZQ[@H48
M/)">#_,OD%%KX8A%#_,$?J!%2V".4C3?&)`!<]`"^KW?_-W?_OW?_3T#$VU^
M%'PR%TVQ&4U;'(VQ'KVQ(#W")2T#(&O2)R`#`:`!#YG"/@,%)B$(VS(!M>N7
MZ9`.)F#_LQG1'SI-RSO<Q#\M!.J@7^E%+(F0((333"]I$4&JI-HJK3M,((K@
M(#]PLR!2BL."O&4]I5&V-CNI"`FH94(F>)*@M44.`6P:.W(;I[G$`!V`!1W@
MVD.B!HF@!N"JW03@(L=)#-4S(-:[A\5@0XB(ETF#(6$%48M#(:0K"770Q"M@
MV,J-4\\L`39!;S(Q#YM(!FIP@XWC."ZBJ:*`/V?C"LG[#!>B.6S#'QDQ2QY2
M#A#@O!;0AE2'/!T@+:FR#E5+<`]F7M/0#".%"#I1B,IP/76`4%&QA`_675!A
M7CT+L_W#(C2=HXM2`,^\%!$1!5!@>!I2W4_E!02R.$2\(F_R_PO?[4/D+-[>
M.8U_=:_L[09+$`1X($9F%`<A8$;XNP6(A0%G4!5)L##>WK_1M[#N[N[:SAD/
M2]&J);$3B]$OH\$+#J$-3J$/'M(3;M(4+@,5;N$Y0P3*D<)<<"RF(H'7[0T$
MPB*6J<M%D'*D0^K>\],_DHI,-K2W"$"AEX*H;%X(`@72*@'.`+51X(3X@`BS
M!,0@;DW)B2_">:U'ET$_\`TGXJ5:W@'DFCN;J!_O84WPQ`$A-T\1(,F3P^5;
M+AU8`,Z$;.@,1P]_V0.1#5&1;0`S!=C&L"S202X?],PGQ"RH$BUU0&6X2T.#
MP`$A$!71PBRK&2UXERS,4@+$E:R?<O\VB#`*6\LU%61U=5`#Q3`3>,@]E&[J
MIPTB2?O<0Z$`)L"[4_<"*R#5HUXAH!->$W>*J@XH<U<(U^!*AH/*E_]@'1+D
ML[K4!S*=AN>SEJ[I%Q0"SWPJ=4B[%_$#(*+K'1D)6R?)0P/MS'A7T]ZNXYU$
M]QH&U4@#<\!J\TL"T[>-@N4$E(4!@B'`_^H&8R#]:J(!`+[]W._?`OX9ST;O
M>63OKG7!@93O\+?1#\K@&NO@_Q[2`A__\G\")S"R%U"R"@\&.+%U/0P(`P-%
M)A(2)A8F(Q,>;XX$=1T`/02.%A,312LC/8.7%A8>'@2DI:4*!$,W0T."145>
M10.915"9=9C_19B#$V\6496_!*Y"0A,#;PK*%FX$'1TU"AP`'`HT;LH$$M8$
M$%@=!@`;'5@I6%CC&PP;)638RLIN$`Q*2FD-&S]"6`8,Y@;GSAG8@`4`@!)J
MU)`A0$:-00`&5D`P"*%.G1423=1I@M%`$PX2FQC0T8Q`%(X04D*8(*%$"8@6
M*BF($Z>$A"@Q+4C@N$*,"0X<".G"!'1%'0@=4NI0$&7$.8H$W#2#H.:'A!4<
M0)G@:*".@1<=5KS*I<N+EQ%#'G(RV&.(EQX&:JP@@VKB"HC/4D"P`"74!%"B
MWGB0`$45`"&O$D-9S!B**%M1HMR,XNH5E`$W;O2(2:#(CS>DWOS%_XG30I,2
M)F0-.#L"P,0:)$E9X&`"@%C5JSGU&#$"=2'0E2;T`/`,0@&D*>PHMU.AN?/G
M*J)+GTX]>I[KV/,<V'Z`C7?O0<*+#X^!AXXC07C0N!*$!`T>)-CHB$-B2P$=
M5T@LT;'$SWX>&&"@0P%G8'#?$@5BL,6"6^AQQX-;W/'`A`^<8:&%#^RA888:
M;MAA#B`F(>*()):8P8DHIEC%BBQ2X.*+,+HXPXPTUF@CC6NLD<".//;HHP,\
M.B#DD$06*>072";YA0U,-FD#"U!&*24+=-`APY589JGE"5QRR4<``1AA!1$A
M[,`%%V#8\HH)LTCPEP06"/8(`8G<!=H;4?]@,H$B(PBB9R@><&8**@0HP.8N
M7@PB%":V0%&++V,9,H`)?\D9Q1MJK(8&`[(4FHT;9#P#C1NUC2!!5#30)4TX
M#QG401,*_"!.04\!H$94\"@P'#T1*/'#!AN8H)%<S_#3P3C?A$.5&G&8`,$F
M*1F%T0HU:'11M4W44<.S$QS%E3L*N/%&"=76!($$-7!`A@5QD)%5"4B]9(`:
M$G#P$5`39+4G!T31EJZSX<3A1A1%0$0<!U*)BUH3%H00YR4\W;7"!(Z.9?$0
M/9RUFV88NS5`#Q"D&ZX%_!A@`#A)!:6+FGTQ5L(/`ZB2<6(K-^:!8Q[\!8HO
M/W`"3!$WL(.J&^C_ND$##0I<$@)00+DDRPAF?=P#R-'0H,VEVK*$&\:<\(;:
M3:;DB50'+\0%U'+,/:=V=6Q/EQUVW'WWW7AT+P%@$',4@!X)!;1``@D\+!&@
MW6&0T`(/5_AQA08M!%C`$EN4QT.!"P:H8(014D@AAAAJ/N$>&6:8Q!X@YE#B
MZ22FJ'H&++88X^LWQFYCCC[6WB.0.QJI.Y%*)NEDDU,&7Z66Q&?9Y?%=2G&!
M`!H082::-^L"9R*`/N++(;V0@M-?$Y20B9Y_!1K**866\@:EM`@2RV*,]A7H
M(=*K[\6I=T:1*=`,3%JHT5*]\<S),5G!U+S'$#),I%6N`8`[W"`.`#!`_R!"
MH`A=I!*%7:4A`L`"0$NVT;\:I(`!!I``<;[!#U>YQ"(660&Z4+B5;*V@A1<I
M@`5*L(+3I(0#AI@A:H`1FIB4Y`T<(`4'WK"M$A@``I2Z!+_Z\KV_<&`C]A*6
M:U`Q`8/$)6'B\D43&&:)/5DD-;I(#%E>X84AD'$X`(!:U"`2!WC\X(@FBR._
M5M/$E8EB`!N`@!=6D2B:+>8Q-W/,I7[Q!@GLYB"800,$R'`TJ[G$:$ASQ)W(
M$(42O$(0ZNN!1%)B-`5(8"&$R`0FS\*:$;S0!#Q$A2^B`(45Q/&($$";VM;6
MMK:][3IQDQO=Z$8"#)"@/;]LCR__%KF_*<B7Q_\,4.24&;DMS&A!,\K`%MIP
M!0IL@0()N$(2,K"C$V5S!MS<41MTY(`9),`!5YC!Z$J'NG:N3D6MJ\+K8">[
M>M+.=K;#W3EWM[O>(>EW3`J>E*IDI>(5#WD(E0(.3@"F+(QI!V``PYG>A[,Y
M52)0P/'%FR0@"SW5(E`@'90IA-.G,'H!?+8(!5_$*!DR(L,1ERK!((:0OPE$
MA7_B(@<Z.@":C`F"7JUBE6L6:;0-&*`;2MB`.)0ZG!)$Q02[V4`:TL".R(0+
MBS3@0`T,\!)P6%&I!NF-L!3A/=H@T00UD`O3FK"MB:3D(5R-S"5,,!?9X`17
MI)@`71RQ%9!`@&'U\@O_O_@E@3K@*UV),,!"+-`#<-P4&XX(%`<&R9))Y8(6
M-+L8U-(RB:E%K;$OJ`8J3@81DW6``[9HHJ(HYI@!,*`$%F!%*RQ6BS\ZQA9-
M.$X!@J))`&3F(`1HI!LL\(,?0!)II$"%(=1@`HVM91+$46Q+2G"IQ$QJ`'UB
M$V]&4`=$D*(94?!`9$0#`9.5UP"RG*5S:FG+6^9R;KL<3S#%\[?ZVO=O?O"#
M,0/D!\OY]PHA($(",%`F`6#`"F"PPAZ<MX,IH&`'#>X"1(DP!8CNP`AB`,,.
MK%"F!*^A=*9KY^G>B:)XRG.>,*JG/76$S]KIDY_][!U``RI0*!'4H`=%GA2D
M_W`"'B]4H3O><9@T8`4Q/"^B$75$-H#30YW`+!>V\(0H0$$^\NUF:AE;'R@H
M)HI&M/1-N8"M+B[%45@(80C,.)JXPKN"@`@!`@003M1&``&0#:>X:#P5&=@!
M`:E&X,\18$!GSZ6('JCC!VJ(PE6OFK"C*:`&7F750%CU`Z=I!)6)X!Y0"M%5
MCUS%E"J!P&1-@A.M`H.2H(&'+R8KFB8X<8:3Y9=6^/471$S@7LX*8A0V$MQF
MU(M.L_G$GA0E%&+3;!>LN,$DSL**,B(B!&30`2E$Z,IG180LL:!%H_[B!0:P
MX0_@3L%LP\@(433!"20`M[K_L(`GN*`'-S#5_APM@?\?U`"29%`W!MPTO2US
MU`1PV,("P$T"&&`%?*G!))L$48<B&,)3"H#I+\+;+;E@)+WJK0![V79+[6Q'
M;FR(KW@R,(,QT,CD*KY".F>@\I:[_`H!0#`1DN"`,Z$@`T3@0@'V(`8N[,"A
M$D4!"LXD!A1(%`P:>)[SSF2%-9`N1"(V$8E9%T\4OTC%LKMGBW^4.Q@;R9]+
MFG&-;3P\'!L/H<A;:(]Q$.0@!^`"1A``$8P<431EHWR5P!-+3&!)"^CB$K4`
M!9SP3JCD#MLL42O"E',6"D@-P'N9GL`B,!$G-[TB,VD>&)<]X)62E<!0O"FN
M08`%+`8PX,_KN&`#5K_Z"*S_/@V=G=H(?J6$H!F`&>_`8J/=$(+R&@R!844$
M;3`=)\F\\7\O)$1CSR4!.J?D93E$:_%QD@Q5`L41]J+6NVH`ISP1)5^&Z&O3
M:I#W9JSK)S'QP&#YE5E%5<9BR-:,68;`"8\]]AUQ2`D<)S:4/86Q_W\Q`&6P
M;N+61T.A?BY@!^NV@`3W`H0@`0IA-`3P,FK`/RV@;E0@27DG2340!@SX!R3P
M`BR1"Q+P?@[W"G`2+JI4&J6Q)VDE%QBG7AM7'1WW7N`A<D%@!6>R@SS8@S[X
M@SX8`@'P`#H(!@G``B'`!1KP`&:R`PY`!!(5<TQW`4>G`1*EA,]C!3/P="$6
M=2,R_W54USI6)R-8=R-:MW4NYG5%`G9B-W944G9F=R5H-X<XP'9M%V1\T'9R
M1R97R`5W9Q*78$B3-P"`YQB@("AW5WABA!N,@`FC,&7'T!N%-`@C$%XE&`4W
M@`A%H`II1AE,I%*--1!QH`;J8`^NUP!RD(JJJ(JLEXJM%P%RT``,\`,#U`/V
M("LF\P92P6B-IF;7P`%>11$`4!`)1"^;-EX_\`RNT5A)\3)Y9`H:Q1(3`5LF
M8`!Q4`D<T"[@91+J`D3IL@*_P`'417FN)FSZLB<30'Z@(0'<XB9W,D1[EPNN
M@$G&-A83L$=LT1:)(@A1D'OO0&=LA1%\X8AJ0@L4,Q8&L/^`+U!&9F09=7`$
M'QB16N`%!V$3PT5G:H`*/+!N5&`^DH0G6Q"1[`:.+%%F*&@(0G$JV%`)D1$9
M@8(3SH(1L;0<&=<<,T@=-?AQNH2#64`$/OF30!F40CF40&D%+)`!$L8%5I`!
M1K<#*)``9Q(";9!S7/`%5&D%5H@F`K"#1G"%&I`!7.B%J3-U)C:&%%"&9LAB
M:)@[0:*&O.-/;3AV-Q:'<CB'"%6'=YB7;?=VS$,FSW,F&H49/4`QF%""*H4)
MH6$*Y:,`F,5:F<`7<=)E..$%`O0P13"8@&<!&R`$HL$*_1AG?]$7*L58`/`6
M:;"*J(F*L<AZKXB*K8>*##"8VI#_!C]020;Q>;O(B\?52#0@`7%@19)@10]A
M$X=0`OGG$1=Q%^?U#2N@!D,D2:!P*3A1`KVQ51;`%*:1#'@B&8H@&/8R&T#A
M:K21%5F!/OKR"R:@/890:]4`;'EB>:JQCXDG1A3C!1'467V4"1X0#^^@#"-0
M`T=Q<`:)64,Q%B;P;038;-E6!%3P@6Q`!2K`@`L`!R`C*W%0G&KP!EHP<.KV
M!.9C/DZP;@O`!@JH;FR@)SE$%L+B<!+021M8&M/3+2@4@[-TDV[S-MS1'3LI
M<M/4!C[ZHT#:!E:'=1GP`!=@)B&0!3.0A`*F@TJ)A#[W!<]#9&>R`QK`E5<H
M`!H"=6(I_R)@6)9CB):SHY9K^6)N.21L"%!N^(8%19=V>9=VJ)=Y&0!"E@47
M@`+-<V0:AAF9>%GBPQ**&:AO<$F\4)""D7<P*4#C>`B0&2A!4P064$91$0JI
M!0J.DC->(`I%P`"LJ)JL]V>LF8I_YHJ@&IO:H`09:@%!HU16H9M2P9N-Q`$Z
M((XML50'=)N@8`!Z<0B'T%BV(4$6\)\00%UR-1J^T!I'%!JWICV_,`'G$@7?
M.1MO,`+XLB>'("P2T$7JMQ!Y\@FS4#\Z43&KD7B(=VR8H&R[L8^U!06XDIO*
M4&D<T02I5:"9)4I%<($+F`+U!S5%(`4+^`0%`!K8P`%:L(`58/\`LK)(:O`R
M)0`##-B1H8$G%K`"'/H';$">8[!N(528ZRD+8Z4NNQ@:?UH$3*,1*4&CM&2C
M*N!>-AAR.$@"71"S,CNS-%NS-CNS`I"$/A<`2>"D`K`&SY,`0\<%1'`"9P(&
M1D"5/KF#3LH%1K"E7=BE7UIU82JF.$*F:&BF9^H`:?H[:SJ7;OJFQX.7<CJG
M=`HF:`LF4T!D?HDF.\`(E:H318!WR34HET`Q[O<*D2D^.+$6`]`7U"4^)B`$
M:&`,941%[--$@.%WK+4"G/JI#0!HD`MH$7!!KL@$,Q0T.A$TZT`/4R5H'(15
ML.HN5D$O+O&;=9:ZL@(._?`-OQ<1(`/_`(EP$2J11)\P2,ZR2)7@)B;!$D!A
M`$$T&Z,ACH#19?G"=[W1!(<`#"VI4L&P/9D@G_-I;-_3-5.31F,!!8J6,"J(
M"GR'$93R?];U?Q3S`A7`@"[0)R]5!Q7[!RU`$HS&%`5PONI6!JXQ1/#B`A'*
M@$]P)Z(T`"FP;B\@21Q0L4ZPGNG#"Y42LG(5G5M6!&P5,B6`LM"ALBN+HRV+
M@^'QET#8P1[,@R%P`4PI443@`$;'!2&0`06`)AIPI2B,`CHK`,^S`SUW)ET`
MM5WZA61)M4-JM3-RAEG;EEO;M4[RM7`8AV([MG%:MFZ7MDZ<MD;`MB%PA6!@
MO*?RAX*Z,H_"_V2!]`DSU`,FX!@MD2?B-01IP`!IT"=#8!(%F0EN<@F0LJY0
M@`6DNGJKR9IX[*D`0`#`DA!"H`YH/%7U(,@*)+J\Z08<,*PV02U1X"Q3,Q%*
M`$N^UP$I8`ZV,0*P9&N;U@33"">4-V4,N["P12>Z\$3G`@K\@GV7(AB-$%GY
MXE8U@!!@,UZRH3/'@'BX7*\>I6SY.`)B='_]>3YTA0N$.1:/%TJ)80(-RH!:
MX"S1H``;J6XJH`/7H(*0!<TBR@1[<0@.*Z(8*!M@5`3=#&Y!U&7+_`<50"FV
M8))N?%.`Z":4MV5!D2T0,9/*49,:I[(YJ9/P)7(D8`40%M`"/=`$7?_0`QT"
M*+`',^"D(<`"`7!T71``1"<%2K>59Y(%.T@F1^MT3Y?#VS2U8EBU5ILC6+MU
M6GNF1`P\<GG$9I?$2LS$,-W$3XRV*%!D$+6#N1*HI1`4$$<H7188'O`*C^$H
ML'4)4;!'0G#&`_`#@&B0?T<Q*C4+BU$+=7":K1BYJ`AHL=@K:)P/-R"+Q;4I
M#'"?NX(%]%`/2B`!U[";2!-QS6<!U8)#.@%=!Y%"!R%IY*!4^J=!X:<&`Q0.
M/\`]7!994%"<Q?<+(@&\OA`3$BM)0"T*>34<IC4OG`%3<B4+43.N9D&?>L(*
M/5`'O*`:1="/(5MXF4;,+E4+L*4`'84)&0O_;N/\!W!@1'!&`.FF;NJQUMQ;
M/@@*;EHP;2;P!.IF!SP`D>#V!$Q19I)7L21`!G,2HNI6`#E#>96J#$@S7N)U
MB(90+UO$%1U`P>NESRS+SS>(@P]``3XZ3S-R=?8T`VO@WFM``7<@`SD;E2SP
M!3IK!5)Z)AK0!5FJM%3)!496I1\2M5X(AF'H.CT\TD!LTD*,TG"IIBO=IDCL
MTEQ"MC&]ES.]X6B;!5,0Q0_%P7[HD:D&C3^=6JR56E--,88@!)EQ`V.]#:(!
M/H<X5_3X?U-C`*>(U:T9N1AT$!`H53^`!GG$HMA%BR[^QTIPUL;UJLTP0Y4V
M`F/%=PO;,Q``:JY!_T.ZFA2F1!R2,!SGTAHI81$E@!+#RCVWU66"9PC49R\0
M``RS<1-[R\J1=2<>8`(EHP3'LA?="@HT8X#C:H]Z\A:\L!J9T0.0NFBGH`PM
M40.[$,:94`@V50E#\0(F"@#KI@68#&<<L(#'I7N>L@3KM@24/@#+?`358-Q_
M\`3#A8)%@`7K=@0L20JBKFZW]PE,5`0+@0VE(;$[XW>%D'T2L0(TB<\6O,\Z
MVL_Q10)[T`5"AP)&$.W2/NW4+NT"$.W7GNW,4P`9YG-$0*=4&0)28-$[T`7A
M;@19J+,[`(5,5^`>#=(AO>!B2M)K&20/[I8I36,U!K85;N$8GN%RRN$;;O^G
M`M"7'<:#UE-XK"P*[<,8K-5E[#,`0C#6A)L&&7FW'.L9JO#B4?,RI7*96.!Z
M.^[CO8(%G3![0OXK5K'4+WX8G8O62E"Y$,`_%O!XPD)#UTI##M&,$%-GCYQ`
M!D!71U00F@2.-,1W=!7+`%H'T],R[L,7.8."$LO(BRT9E]+*C9!WB=D]<6!4
M]N82-C%&9!0+J\'9EW1)(Z`9F@$`Z7EW3(8*"X-:LE`Q13#*>=4M^VL'+S`"
M!$AG1U4`Z_8$A[S6J*`,<<"1)M$23T`%6@`<PGW<P\51Q]`!ZQ8&&JBA`GR(
M*'J=D+4]DQ&=>6(OX>E*Z'7/QB[>&$S>&MP>&8#_8!$UT!H6^Q:&9+)?^TA6
MI42``E_0!3J;I#*,)GAZ=`+`T%F)PNS.!0'@[CD,[PJ.8CX,WR7=8B>-[S(6
MEP+%[RWM[TL,\%(@\-[?4%D0_G8J=%)\TV?B*00@/HVQ_G]TXE,M"-Q5`C?`
M7/+#"FB1&?;O!=1)9V<!"`,F7B9U`%@,2@P,6#T]6```&QT;2AL;`#<W&VB:
M(STW0AN+0J5"B$H<;A:")A(2(RL3$H4EMK<2%A(3)CV1)74K$%C"*ST&`",E
M'!:SO"8CKK2VN1864%`>'E#7U[.[$BLF!.3D$V]O'NAOY.@$[NP2!A($4=;-
M1?D3^5X#15Y>]$'9-\C+_Q!0/88H=/1&0;EV[B0LJR,!6Y&!14;\8$?.0Q$G
M?T(ZX14R9(H2(PR0,5#RSQP:,&/"=$-`@0(=+?\0T&6B0[1R1TH^43!PUX@.
M+<>X(Z>EI99M$Z).L*"`IC5[NB20L<=L0I.O=3@T@?#"CMD*:-.JK:"BK=NW
M<%7DF4LWSX&[!]CH91.DK]^_?3&@V$&XL.'#B!,7)B(@"X4L1,!PX1(B2Y8=
MDXE<SBP@1&8KD\$0P4PYP9X<IW,D6<VZM>L,L&/+KD*[=A4*N'/KGL&[M^_?
MO=<(3T"\N/'C#HH[6,Z\N?/E7Z)+MT&].G46V+-KI\-=AO?OX,&?&$^^O'D<
M./^DJ%_/OKU[]@'BRY]//X#E^_BS3,ER08`&*T2$0!H78&BS#38()JC.-MH@
MZ`9,"JC!B29HH&'0$`.,H$E`P*`TP@C)%%%"$2;88H(%)A1!D`0]=.#B)9T8
MT$$)$HQRPP\];""$(QH"($0HIN12@@G26*!,%!(TL14$$!R""031..+*"`$1
M220M=1A2XBM9VC("DQ`8`"8$$WC0#8,(WO/-"F0X5!,'Y\##D3LVU:2`!.RL
M\TX^*D+!3T`#1(7-!%[<$(FAOB3DBPYNN/E0.1+4T02<?$95Q`\<O%-.4R%1
M<:($+:4P"``*\-!2"S+)Y$9#-N7TQBPHT0B44`1(5<3_$"FT-(>F3#G5S#Y3
M544.BA9$8<\RZ%C`C`E?K5"#6`:89<=:U,9EK5MUT8577GL!YFU?6[0A[KCB
M`F?NN;QET`9D`^X@Q6:4L4!$:`)$-ID&DA$X[[T9[.%O#JJY)C!KLA6<@6VU
MZ:8P!>BB*]P:QT5L7'+$/6=Q<])-9UUUVG7,`G=TA"?R=^:57!YZ[Z4,7WTL
MLYS?RY;MM]\%**"@P6CYA@9&@MA88*"!V5B@A@003*C)#14"I%!`7YHP0`D9
M?@BE!(&2.`('#ODS0(8],;+!#Y)T@`P[$##`20]%Z`*V$#[JR(`);^A"8Q$2
M1`%!W1RT21,$'4ABM@$,B(V%_P%88+$!C3_\0,\L)D#@R@0K="#,"$T$PZ2S
M3)J`U35`^QPTBE@WY,8$(]`S)SE5R:0`1Q#5DT^@?E[DCU38#&!H)#X"`,HA
M6-O4J$UUDE."-8,.X,4$4`P`03G)LE&2`:R4T-(+T$!0ZJFIQD03\#DA"4TT
M%J`>5$A/O!J5%R.\H.M#;W`:DA82I%UL%`KHXI`$<<#I[+,<<&#"#W&85!T,
M\*PF2(M::KF6`K,UEVWMA2_?\M8%K/"?"E+P@O^Q@@8WR,$.$F$TDPEA"`3P
M!7Q-1@PR`,UD*!A"#8@AA""D3`#\]:^`#4Q@!IL-PFZSL-PT[%P/DY@0)W8Q
MBV5,8_\;LX''MM.=D8G,9%!$F<JFV)Z661%F6,3/%+8H``T&:$`%*A#0M&&-
M'UCB!CU00X6&@#0T#.%67FC(-/HQB`P9P!7Y@`8]DE2"'H#)%RL``"4`0#@L
M=``"]+,`V-3P/XW@*!*E&$'<C`4U6DR``Y.LRBI>88)#```"-2A!#0()@!64
M``!,"!P#R&`D`)3@!Z6+PALDXK]FU>`K34")XNZQ(`/Y3!NSE(`FHT`B"[".
M``]2'0&*P+IBU<-2%XE=I092J&2,8`@?NIT0,I6.I:#.(6\8@:2\L8\B1&$`
M]&#>^/[@@FR<<GJ-XP`-6%*2EV2/!MMS2$[B%[\4A<\FZZ3_PE22501ZAF0.
M<_*`^_Z@A0D,`)/U&-:P^B<67/J/;P9801S>0`:QU."`"$2+`J_%0+O@Y8$1
M]%870LC2EKKTI3#EP@ZLT`4I6($TE5$A92Z`4PV(T%Y<L$(53E/#&^(PA['9
M(0][R+`?`B>(0QQB$8UXQ"\D\3I+Q`[(G/A$*)9,BE1TCQ7'*I\LFE4_6TSK
M%/P#(`&%$`QP-5`4?K"!&ZF!#&]H8QL[,0!D$J!$1=@:U:(!@,=Q,@I><<4I
M:U`'8#"K"4XR@&2%4(-V_*`3L/R!)MC&MJD4*V[^$%$NZ.<&-Y"A!%AIG"`;
M!X$5K,!_(V!`"IK$A#CLQ$D`^,&)_PA`AJGLXA:!;-(AU6"/GQE7'1.(0VE7
M%04/1.&;R8S)G1`;)P_THQVQRX:?9C>0J%')()LMQ0IJ\HYUF'=8O&B"S\H9
M*#P]1'TA88,)N-$X>%K/#05(BJI*BT]D*H`,+5&!!=(F%6,"M"0"?<-R%9#?
MDER!>>USRD`4'-'M(=8:X^3`*\2R@@(4(`YDJ`>*0!K2D5JKI`[L5DK_LH>;
M*N;%,-Y!"$)`A`NL00K[TI<,<DR$P4QFII[)S(!D0,/4V-"HJT%J4A'&5!\Z
M]3=0C:K$IOJ<JEKUJEG5:A.Y2C*OGB<]80TK6>MS5IBI]<QHOMEH=I`S11J3
M!F0``!L[P?_&$4S@09ML10D8YPM7#*('XGP#!XH@CA*YH@[2*`$C</>+A]#U
M!B.@&]7@9MYD165X["AM%&I@#708JQEPLI(@)6<,R5;V32,8@!#,]@-C#BF0
MDI61V%QT2&NH(QT&6H<%QMLHB5@)F3/!,PVB,()F#`$@!O&",%?%)Y_IXU=\
MLETH,'&*.KS#`X]Z1_#4(!9@861KS]64!190DBV,X=Q'>$)+J'"$,13`#1P(
M<#*7NUP[-?B@L\#'5.BG@(!2A=XA2`IYV;'0%RA@)KP55OTT9X\0$(I&$NB?
M+M0P)@"0&($FC@N*3ZKB%?LE`UR%(A5E<((`V"P$.0N!$8P09,K_U"N$!7CA
M9&8<0BOTJ\@`0W)KE`R;'389-T^&\G"D/&4J8ZRJ5U5BEK?*Y2Y[F3Q@#?-Z
MQGQ%^Y3Y96A&\P6VSG6V?C%?8."`&,1`R!^H@:YQ@`D!U#`!$]5!%X$%@!I.
MV5H[#W@?C2T$8^O`MQ:)C=$`"%\Y%%F"H0V@!^,H[U+LH3G11>%$]OBT7TT@
MC"8A0TR"C+5_%5`"0RZ:`5KIWPK$)-D72'9_$%"#S]8!3':L3ECY^)(JZ+U<
M&L`QV4O#$%5RD5T_L<)0P`?^[BA+WO+:"751T#"W.8"1V*$O3^0(>$ZFGQ,>
MT$`!.4D[/ALUASFTR2;J+@D/7K&/71@+_YG^!IY-`%R2(P2/`"X(E?9M(KJJ
MO$&6ENX)!.+P2C!]$AD0<''5DG%OL7%W@5(>YQ<DT`4?U(`.^(`0&($?Y%:A
M,5,V,R!B8`3[(AHY)AHAM`,L4&1&IG,$PW-,]G--%72\$65$1T1&!QU(AV5+
MMV5-]W0G`V92IS)4-Q]7AW59IW5<MW53@`)&X'4"4AA0X'#RT`'R9$F%D"&S
ML#4@H@PKD`^61")$TB6Q\`@955"#@SLE<#IO<$HW,"+W@']+(1&D=2>8]&G,
MH$EO4`B?%$BN=3F(YE\[T1-]TP,,@$BO4`*D%R:2%28=P``&@&GH`$P2H`;(
MI&DIPB:T1V\*</\A"E&)R.8%%D`C;S`0P&(":&`VAI,)HF@H)9!M2^$0RD(&
MOK8+40$5)=(.YD!]LA@2/%!:2[!N>(9?Y&8'+4`&39`33<"*47$/!$`#88!@
M@@</SA-?#4%>5Q`J+T`&OQ-BY$`3[9`5E%<#-0`!0\)_H10'HW06(252!(@M
MV9)B'9>`09``*!=3[OB..T`$5E"$%,@%C"%S]GA3H1%#8*`!-T=#`'-D2,9S
M!V,;*)B"*CAT+>B"+^@`5I9T6?8Q(=-TWF&#-YB#*[.#9-:#6O2#9Q:$(,EU
M-;-R_T$$8G"$8#!C<8,\)!(KT.`T$%`'Z*,B1')IX=!8L2!.HS<!.]'_)+C3
M`^FD*7'S2F?W-<8"?03@`9GB$,E7-YX5/O1&`.$`)J;D(;Y0`\U(#DU@`"#2
M`3U`(U\2:Y+E(BE0EBG@(IAF#[`@"3]@)^DU>Y%86A90B71Y`\G6#\I&1D\C
M`6S$-I[D"[<3#>?P$(ZR$TI2/S^P`DT0.]KP#T'Y#A,PB[+X`O@4!]4W$W/0
M$NFV;KI@#>446&1``V.`8.%F7O%7$IK3#B10$GD0)B^@`S9!/[SU?;7R"A&7
M2W$P=QYU2VW"`>(XCN5HCG7!!AR7CAY'`@N8,^^XG#+&&$:``@*`CS)%02TG
M!OHX<]5I&@\@@CE'@DE`D#[79"KH&PJYD!73_Y`P>$00.8,469$6.1Y1AY%5
MM(-98'4<B58>"80AN9\TTT4`(@:$$1H'T@M#P@O*D&J"0#=Y-`$U\"$YV4D0
ML!20A3O+PS[UL`D_D'K&EVURZ9D38`\*UBC)M!,E`":%9#BRI0H/80&1X%K1
MX#2$0Y8=8)8I8'HN`@%J`P!G"4J#9P(A4!6:%(G&0Y<*<33'ACZ:0RAF9P%>
MD"BBR$:>\#0D4C?EA2(;96`TL0O,MP_&!`6E`V$6L`0N,*9+``=+L`1F8`:Z
MH@5+$`>^LTXAL00Z@$\\L(S35P#W@"*!15>A>8R=PCJ):`6^8BR661).\&$0
MD#=U$G&9@HW^(W&P(/\Y%*6H4?";)1:<<I$MQ'F`")B`)``N,]`")]`"I%JJ
M4M`"IYJJ5!0`75`O[?A6*E<`8">/.2-C'R@%_K*=.">01@6>)\A4XQD<$&.>
MRH&>#AF#2121-,AE[PF?.(B1&DEF]LF1^?F14\"?_(D"04B$1=A6;`8&W[H#
M'E`B9&))P`(GI*,[I*02LV0":G`3HZ>N#S%7#)`&;GI,QU2-J^*AF!2766H`
M9XD%*5`XC"`F=N(0"L`!RO9945`"&R`F+]`!$2LVIF8`5H!(DK!_]H"'2-*(
MFO2QJU*D1W,#4&J)&E$"-X).Z+1=GW`T/4`(_B`!7N!_@F@`'/!<I:4`#2O_
M*%&1#JT&8<EB7.&$!BU1`/UU5V\``$B0$W9P!6>:F=/7`O5C#7PY"HL0FJ/Y
MIQ"1B"I0$@N@!37P`A70$I)5`&10`R#64782A[.W.IX92#4@-I/"`7&0B9:*
M<9C*0)O*+<:94LB)G!G@8C$68\K)4J*A`1H`1A_$4C0F0EV0!-NIJP#IG4FF
M9$KU<\&Z@L-*K`E@K,>JGC*85<L:<N\9G_*9D6-6G_<9,]6Z11?@NMB*K=I*
M,S53NT:005^$&7&5(%%!)"02#*FF$FYB`5\CC2&`#(7%6S]0KQ&0`D`+BPU;
MBLBD:^$3;+17)\K"-X@0.#+2!.IG$U-!HI&P`5AP_S4<8`5BLC\29P%DH`:Y
ME3A?<WRN%Z1`"K['5I=%:HF)DSB')P2=D`E(HPE`Z5#2``M?4GFC)";L^[$C
M,@"#8BP_\%QY0D:W%C?H8#M%BV<U$04;``==*YDYX0*O8`V'=P@,H%S&B&#/
M2P`&)8MST&&@5`.2I3<U80V^4P]U\@8A4"NC9P"VY090<+<#&)QZ6YQZH8X*
MB)P.T'++V<0$$H\ER5(SE6,R)09@9P04$+F2FQJ4^YV6&Y[`FKGE:9Z>^Y"A
MNT2CZT3-:KIA%JW2NKKXV;K7&KNR2S.T6[NV6X2X*R!P!5?BBA%YA#YMZ3OU
MHP9#TU&1T"0;D`81D`9,4/^AL,@1$B`)`!!NUUB,UKM@W_LJ$)`"!L!WGV0G
MRQ5./NE);+,\OGAZE6,+PO`#A4>4PO2]ZO<[=3*D1)J_%W()AOP#0Y`(I'`*
MR:`Y0F,\M@!H4&(Y`Z2Q6?D*_C`0W!#!6QLWO71K&%P2!="(<@DV<&"G(!P2
M1_`"4X$^*`(`C.(&`67)$/:,LD@":`L!!<`_C(*]-OQ^WYN'P@!B"B#$:X&I
MF3J<1@Q!GAH$?A`$R"D%*-?'")W0"BT9?BQC8D`$1L"`+;4#UCD@5?Q61+`'
MDKO%W>F=)@C&/92Y,S#&"UG&R+HQRCJ1%+G&SWJZJ$M6JKNZ<GRML$O'V:JM
M>)S_TWD\DB6)DA^8$0-@`3D[KV8'B`S`!(T<`<V;;8-W"9B@!LEB`JJ@/9'8
M!#40;@BKLX80"5B03L!#`)!U#!(@PY$`:,BD`V(I(QDUB$Q2`G4BRP?K.V]P
MRPI!)4=:(:-P=@`@3'5`L(7%.*\P`IC@"`#86B4:DQE5-\_E$(&E(I<&U>@0
M)XDH2]>0#852M&["E%'P?S`PMK(8?BTQ$AE1.@=76NM$`EX-81ZP!.26$V,@
ML?D#FWB&L&\02HRHR8^"#N`4<02@SVG!SR6UMYV*Q`2-G'Z0`-`I`,J]W,S-
MW!J@W,^=01H4<Q:=&2;94@`*=C:GJP^PQ5SLT1]-&VVP_U1A/)XL2,;&:L8H
MK:SMZ9X6R<9BYL8\.*T]*,>O.\<VG:U;I].V.Y)$R*TKI\<E":`6_=5(`@%F
M%VZL-!8U0(VF*`E.W9;O$`719;W;1Q-;`8O`PP&$Y$H4#J0UW`&08%L3X#C[
M1@X<(`QBLHTTFS??),O?:P&:4+*5N`]#@`:KQ@!"<#>?5+^1+0A440]K24B2
M]4DF$!7*`TK,H&&ZT*0J<BFYX!%XL@W>8$R)J!"%Z,FTZ1#[FR@RH@5F``,P
MT`(\4`",P@$8,#UX<G@6H#UTBZB076FW=KQBN@0OP(U:`:0Y^]5C_15Q0*6:
MA#H66B>^38Y$S$#H"-#$W1=_._\#_WF2`7*2DAX"DS[I1^A2X!H"5E"/^M(N
M&K`&W1WJWMW1.N>KM$$!Y!W2P7K>)9W>)\TQ[-W>+.W28J61,7V?,WW?^5W'
M_*W3SYG'`1[@_E&2`<+'!!)VV`;73%T.#CL*ER!WX19=M1>7A<DZR:=_'@L\
MG<PW6"/!$K'7DWPY-4M`W%0.,/Z]$S#C;&2)5+LUOG`(DPP`TOC65),+#L$+
M:RDU3<*(]2,,*6X-6V$I0?U*4]ZSK6<FK,=&R$8/P/-X&?HEGZ0188+/40D`
M3I`'?P`#(_P*!Z<]-$`.=V4LQY5K][>(=7/N;O)X7]$_<5`B:)OM3/T&A<X6
M>8OH1KS_Z'_QMQ@@+X7KQ"Y%T0U8N#)6JQJ0Q:+>W=S)JS=DZK>1Z@LCQB3=
M@B8-NNN]=.U-<J7;TE(GW_,-Q[F.W[L>DCC=ZSL-[,%^]D4(W0"2NSF3U84)
M$2RJ(Y?PE<5;$]=GR&<7FO[Z.\='#E,IU)L\>B7@IHVR$UL]-)2\#!W%#"%&
MC2BO?D4PXT:*1F?X:46`!75@UL+B]Y$6RX@%(LF`3G)#(\TP*=K(`7,*+.@D
M=U3:#/A:P5!P;`Z,#;(I`3CB"!``:/J>=K^S7$7P22]PJ+9)6C,Q$W'S?:O2
M>KBF#?BN8(]_[Y,:`A45)OMWL''M$-,RCC1_Z.=X\SC/Z,9-_P()H%,^7X&:
MWH"O^H&V^H%=D`%''^I)3[E,C^HH"/6<6ZSH^>JP+KHJ#0@R@H.$@B>'B(F*
M.#A2CH^0D9*0`966EY@!69N<G9Z>4Z&BHZ,7H1>HJ:JKK"BH*+"QLK%&*+6V
M1KFZN[P"N@(:5E9$(2$[7,A<!`K,4186$C\0(ST`&S<_-P#+S&K7-QL&;C0T
M;N;,Z&[,!`02$V\$T.CS4=,0$F[<!!P&<?%JVGZHD6"!792!4;C-6ZA@PI`;
M$"&B$2)DPC-G%XMPF,"!C(5\[*(-D-#L!P``$'J,&%'$PAL+)D:H@58'`AD"
M-`@4*3)@PP\+%@EX*,B.W1L/'MZ\F?_@Q4M+*!=+_.B1<EJ)$@.D<2BGSEP^
MJA`,E`!J8>BX<LO&M6-&CH:"HTB5>C"AA@Q#!>?2[>/0A`.'$'SYU@!@`$(<
M"1*XG2-@IX+CQY`KJ)A,N;+ER7DR:\YSH/,!-J#9!!E-NK1ITR12J]XR(P"K
M5+-H#=L!)IEM9,1J)PMQXL&>,P^""_>]I_B>'#F2*%_.G'F&Y]"C9ZA"O0H%
MZQ2R:]\^H[OW[^"]KUF3H+SY\^C/.UC/OKU[]E_BR[=!OSY]%OCSZZ=#IY!_
M0HH$F`@CDQ1(228((OC)@@R2XJ`HIKPFX82Q59@++;QDJ.$O1O@BP(<"#",&
M;;>!`04U/53_`Y%/RY!1EQH_;'!2'%QYY14!=N5$P!MXD:,``>K@Y=4;!F#1
M05^*O6'-!A"<!,$];YE@@@0Q2<#C7>A,$)%$#`AQPS,61($1F&`*&05!/PRP
M#`$F3&!161X,,((7)D21E`<3#-#D5FY-4,(&&Q`T@0DN)0277$DMU=0`94$!
M%374`/##55[HJ0:0YYA#0`D`=)""`35($(529[G%C#D)*=!66_D,)<%8=^6E
MT(Y@^F5!,1P\TT1A3]9`1E?JO-%89)%=9FQEFVGFV6>AG>:LLZJEYD=J5VAP
MS&W89HLM&#MT>QL1750QW+C!&5<<<LVENYQT[%9G'7;;Q1O>O."-_Y?>O>F]
MIZ][\LUG7WWZ!<P"?_\5+.#!!!JH<"0))LC@PYP\^*`I4TQH\2NO5#C++;AL
MZ'$OOWC8(3#"$$$,B6"8N-,(B:WC!AF`R@C!6>:LJL"3<=CE%3G`>C6/#F^0
MH;.0@?EUTSEOB$GE"%,FQLXZ9$3!C`4/0421$-<4(29&8I+)P:ENO!&-!3\J
MA2A2'A3AQ4KNC'J4!'6Q<X,2@9()15#P(&644E`,,807$^`YP=TI`C#"`"5(
M:1,!"9T3!0>=%D`&Y/=8I"K/+O_(3JFLDD$HD%BNL^8;)>3*@01QY/HX&8`U
ML8(!O))1#EX_#DOL8\?FGBQGGH4&VK/`D_\6[?`99&&%;MHFC\P.QI"8S`Y6
M]$8NN>8>I^[U[$KG+G7Q=D_O]S/8BV^^YNUK?K_^_FN#P/OU5[!_!P?(2",+
M3]+P_95`K+_$#D9X\?\:DX4N,/2Q`N;"%R/KT,A`!(Q@E*QYW`*#0GY4@PYL
M@`%Q&(>-6%6#L,2!=C03TTW2L9`-JF."M$/'F4Q`IPD4X7,$4`,`_+&,-U1M
M(E=#PPC"M+6M/6,"$G!+4<Y4%+,9$6T\&<%8"&(V:"SI)XBQB%*>490=&5$H
M`_!;$00'!0]X024F&,``BE`"N_Q(:NI0@U\X@"I)7609/`L;/GZDLU7EI",H
M).$\BF@"OU"I"7W_]$@(H@`8#JS`@S9:A^UN)YG<&6MWR_*=:((7O.&IQ@\8
MP,`7K&",E'GRDRGKEBB+<:UD@"$$5D@`<*9'/7,EYWKIREYTM@>O[F4'?/02
MW_C44S[SZ0M]\5'??=B''X*]KQ#Q6T3"ZD<)2>`/$_I[&/\@1+'_6<P5%PB@
M``EHP`TAD$,,#*<X/Q0,DS7/>2%HPJ]XMH]5D6$%!=#!8L:A@)N,Q!F8"M+.
MXIA'VNT(,8F#1@F:M($(=(`,;_B:3FX@!#3@$`TW8$"=1M5#I:DA;%?A4=24
M8D4K<O1')H`5XSQ@)['=X%)1L`AB++"3LA01;?!X29Z&,`"D#"YM(RF"_P3T
MY+0A_N@C%F#CI@!0@C-)PR::<P8ZWD"SEUE@:`P)TAZ-\@P)K-$O?7&;T'(E
M`<GQ;'9N6.3M'/G(9$72=Y2LI"4QD)I,;H$%1N"D*.<ZU^9A:P=$$,`75LG*
M5AKGE;!TCBR?0TM;<@>7X='E+LOC@%[ZDE_`%.;ZB#DP]QUS$,D<T#*9^8AG
M-BR:TIQFQ4YAS8MI$Q8#1&TW#2BR<;K6M0XT9R>1H0!EK)-G.M!!YQ(3-1I`
MXTR)J9$=9U="=*0E"CSY@4D8H(0T1(`)`.CCE:+`4(@V]`83`8"=W+:U"8P`
M`F9[%8[8\0QX%%$?2VE<V"9@)P^(JFL_M),4S_];E!^YT(5;',HSH+`3G8Z`
MAIJ#QX](,JJ<1*$$B''2D^!$TJ0EQ"`'*0'H8L60IS&NCQR0$B";4`,.,&Y4
MN;+`"FI`,^**E5ADM<SN>-<92:;U698D`0;\@,E,NK4-+.C",""(/&1PBWE$
ML$(6OD`!<O&UK^8*K+H&2]CM&58[B$TL>19;/L<^%CZ151]EBVG9R\H@LXB8
M'V>;R3#/Y@^TGQ!MQ:I9VM=@\[2HY>9J/=;:U]IYG!K(<\F(T4G=@.T<)H``
M!Z(`:!,PCB"JXEP<*<P,,ICD@DIHKA(BH`0F:-BX3.D!0QMZM1(8<8I4\312
MR/8C?\9#5.;57!55%0__,27E(AAQ4SPF,+J8\HA-.^%O2X:"MD&]BBAI@:-;
MZG(6!<`M'MG`AI7N-$7VFFU4H4NAZ!3B#,18U:JF4Z=1HH!0;@_7+2<N5HHI
ML^*S-NO%IXDQ":958QMC<@M)P'$72":,>FM``%UP``4R\(`[&+FOPTFRDIO#
MY.DX^<D4B'*]IDSE!#26L5=N#S"_(,PM5];+F`7S"<0\YLZ:.1-H7I":V=QF
M"<$YM1V;<X:^Z:$[NQRV>8[Y,(@@!@B:,@1/(\>F>(3/<O@\CE+U63UA!&D&
M,+?2E%9"!ZCTM87LZ&YAE&ZI3^7=$JP@:06A9SY!,L$JKBE8=BDIF8`RDGCL
M_\W!(1GC&'E2!(OP&@IPDUJIU4(S@;"3VU'(!D1_,"IFRZ6\`H[V5+W^6V=@
M1`(C+"(\Y/GM<H0;,N,F-R1[AU9THT;=TK*QYC6_A<Y[_O-;N(._1_]O@!/G
M7(`=>,$+BW"%?T>QBWVXPR..9?15?,O&Q+C&-[Y9S@;`F1\/.2A$BPK2EEP5
M;SZYG%6^<@6^_/GDC/Z]I]_`/9^LE+55P`Z8^O4-<F4>ZCA(C(R^`24PU^B1
MCC03#$`EN8._9TU-AP50`H&4)EJ?I[H<JU2-%WWTORQC`A14$29&9'@LM1-B
ME(`#X!10X0%P1VKIX!:LH@87Y19P@QA3$E':Y5&?%O\F_10Z9V=XW.4,0#03
M,;5JC4<.CX<[D:<"Y=9BE6=Y08!YT=)N--9NFV=C6X`!.]AYHO>#/VAZ?H4<
MJ:=D3,9ZK>=ZX0-[NR1[M%=[Z?,ON-=EE[5[O$<_'2<%'P=RFB!\FS!RQG=\
MJW!R%Y)RS`<R=09]:@@,#31],?>&,F<%-=<M/?9^0I</T5!^YG=!Z&=T1Z=^
M]V!HH6,C]`1^!'!($/`#OX(E8&5'^D1<^:0`VP4F5&("D^(28J-3;,=V"KB`
ME0(G+E%"^:!!9[(U,((0%L!?0I`"'L919F-%)"5X>\1110$-:I`X12`-`[`"
M*T`5*R`G")8C*;B"CM&"+CC_><QR;I9'@\/C;C26@]#H5J$'A$$HA`&'>D48
M6$=X<$GH>N/!<%3FA$_H`%FF9925>UYFA1S7<;]W(,'GA5](?/XCAK"1,:=U
M"V?X,6FXABYW;VSHAFT(AP(96[+E/%R0?6\Q`%C3)4:'!7[8AP^I!+X2>,4E
M)%XA-,;%)G^RB%&U&)&H`T5!,S^2%Y)(@D"!#12(&/W%=DU1*0N8@"V97WJS
M#DGC0I[8DLI%@2VY=D70`Y[&@1T(@2!87^0E`44P`BM@`G7P7770E$ZY`H01
M%K!S&(QG1\382)'W@LGX.S(H8T?P!,SHC#@8C3HXC=3H;]8H''^%+@.G'-OH
M+@AW_TM*^(T-QU@0-X[E*(7G2(7'I(Z]YWM;:`E9T(7P"(9K1H_99(\!E%KY
MJ(\+Q(]VYH^227T#69D"66\S1TJUP2U0$`)B(`9U``!8,)I\^)#,E0(<:5SK
MX'Z)M)HP\5V!,F'Y-VU%)#0W<5MHH1:+V&P6,`#8D`TE@%\\(48M69PN.0"!
M@S;LX":<:)Q>(!!J4)S("40C<42?-D4DL4?2MB:,XR=2X@4KX)1U("5/V8LI
M805/\B2$T6%520-7:8Q:Z6)=R0,T$`);@'DV^(QDR7EF>99IJ9:HUY;K,EA(
M:%A*V!UT69</-X[DF)?V,8489PB[]Y?,U(X>]XY>J&9K=O^8B)E\VE2&C>E-
MS@>9SR>9#120EIFB`[EGY[29W2(&)R&:#JET(Y0.#_82!D$`BBA5I?A=B6@`
M,V1&%CFDZ9`7JS**YB!H;R%?/Y0-#^$4*[EV-[DV/8"<B#(J>>*2QTF<T%DI
MBZ)33R4FU^E1B3(!:B"*06(0%K`V=<`3$-"44B(E2,F+X=F4=)J>L&,`'5`8
MH:(#[]F"\1F#+Y8:]!D"5(!YFG>#^\F?9UF-_[F6`NJ6!,J-!GJ@"=IP"XJ7
M#@HP>QFA7S:A6)B%@7D)\!B/Q!>&8NBAB\DQ(2JB)!J9T=>&_ZBBM%JK]68R
M?'8,H?298N`!_J=/7%<",")A2V7_$=]U$GEJ`)="B,RZ,S7#3_TW`ASP;%"A
M-BWI-R;07YX(D]*)B8GB14VQ$^^P(VHS`@)QDXRR:AQH%&>G%!,@I!YI$#99
M!X-2!\&Y$W40GCU0IX'&B^F)G@:`B(@HE7^:E<@HG^A&J#3``?>I;HFJGXO*
M@_U)C?]9+@$:J6]9'7'I'0D799<:CG=)>Q,G61`:H7Z9A8Y@H2F[A:6JH<6'
MF/683?>X?*VZCZ\*6R`"D+6ZLSR+F>9DD,D`?ES!)FXB*L4J`8?4`3&:IQ"P
M=<U:(Z6B*7@1!=)5%''B-\3Y$#\@G)[H-XNR@&.!-FCS-TFA$'TS!`)1`EJ4
M=3Z"$V5#_XM%!`9&="D+P5%4^T+C*25MEZ5U&IY*&9H0(+"\2!5161A`"@'$
M:(S'N!GFQI6C,4F55*@->TGK)F/.&+&=)[$_&'K!@9;"L4K`41RG5QQ)D`-[
M`$L9L&09RSW=Z(U,B"_B^(0C>WO$A(Y5"*HHN[*C.I@MJZ&H>GRJJC%E:(8U
M.Z(WB[.SZH8\N[S,^X8L>DZT=9!0L10N411^$A;(JJ=`"CML1(A0FRE?92KM
M\$(WP0Z^^3=>4#58JX#%V0-_LX#+AC:I^`Y*09L6@!`\XG,EAA:ON"/L:D3R
MD*:TTG94TJ9N,J_YFC@L5!/T-[C9FZRP`P'HF;CP:5:4)QJ0"_\M)"`\,RBY
MPX-)BII)(:R#FP=Z6_``G!L<)SP<?,57QO$`Z'(<V>@<@C6I<-FZ"O>Q36AE
M$3>[YEB[?/D^)XNR*JN%+%N8ISJ/':J8PDNS(6JSQ^N/;/B/)]J\5GS%#C1S
M-$>'IO0&RN`!8M`$30+!3=(!'>`/\*4/6Q>^:P)$&O%@7G`#"S@$*9*^-^`4
M4]J2*B%&WIJ*+F&3;?<2MW:_.)&"[.2_YN6_BB<V&:1JT.`.4G+`"#P`V;H2
M*((25%$-34)_@>NO]$?!@&K!,/@[;$`"9W`$8S`&87`&PI,:J*S*]$D&JH$!
M>S`&5S`&>V"Y;A4&5]#+8W`&-];+5Y#_`7K@>4DP9;V<`$F`PL"1!`EP!>Q!
M'HTU'>M!`>3H`%60'-8L'_KFE@-JPQJ+PQ[[NO<2NR*[J<,$Q)XZQ$0\JF>&
MQ&`(LXDILQ_*JJVZ"U!\O#DK?92)Q?[\SS)'<WV6,C[&/&(0N%()`"HY`@"P
M`BPU`)>RQFWK#!IQ.CLR`G]3-4WQ$"PA1EZ[DXN2G$IA)V+$=C8))#&T3H\X
M7/F0R-Q914941NA@E/AE$?SE0G_[G=20$BKAE(G3!.*9K[R8KT0-R@;+N!<L
M&GAP!62@6^2@`SS`5B1P!?$41_5YGUO``[)3#F2P!#9V!7'@U#2@`UY-U4[M
M!E#M@UU02EP`_P96\`7!T0964$H_!@9BX!JT003'L`,!D`0L0`3(`SU]G;J2
M"LZL^V0'NH3@N,,AV\.V1[*=:K*X2\1EAJ'"Y[*_"[ST_*%.W)CYK,]3W,\H
M"M"DC<6W6I"Z^F,."`4U!P4A-30X\JQH01`L!1/>Y;Y^<\=V?`-#P!--4<>+
MLC9N,A19=`-&N1/%603C<+\II&BL$BSUI3FBXXH'MB,AQ0$M5=,\40(]4"DE
M4"EZJY0#$-1]2Z?F'19&/6[(N)6C,0?CD%MGL01!,`8T4@YB;:@8P`/[JP-S
M@`%C$`*X-=8M\``%T!9BS0-GL`4HX&.Z`08:D`09@`(-;AM@0`12L/_@%!X`
M7P#8V$($7T#8$+ZZM61+B:W#XV/.CMTODC59ZBS9&D>A%>K.O`O/(P>SKG#C
M]VC/]WQ`Q@O:^SRK55S:0C[D/HO:=`@&2%&D.&*1^8`X2^%KU!`1W>TW57.3
M=-S=8J1I_34"O(T-Q/FE10`/,[%/W^8SJ28Z`?9I=-&;=>`.0/%"+[0V6''<
M/!&G2JF40&VG-5`#(Q:>B%@8!9#>*;;>+G8&<T`"H/'?-%``)+`$Y,`#>$`"
M3U#@]LG4]?D$&#`'CWX&]$D#/+"#&-`&#]`"Y%``>[`%5P#@_'T'2V`R]R8&
MN$$!?]W61*`!'`X]64`!&,X%>&7A&(Y7LX'_#$8`XB(^XMYCJ8O-V`SJPS_,
M/K8KQ)--V>[X3#-^V9C-H:G*Q!:BXSO^V?ILHGF6O$,^[N0>AT9>ATLE)2[Q
M#`H`!3=0#4*`T>^^:>F+OE0J1B8`$?6N:4+``#>`@"OI)F=JR-^G*5UW=G&!
M-DK41T!ADPO(-'N+T^,MGGY>`TUI\4+]Y_V0(X).5H2NC*9!GW%``@6N`Y-$
M`K&,`8[N!H?.5@5>`'/0!(L.ZC96\F,`ZIKNZ7J0`45VPET0ZP%P#&)@`P_@
M`+"^`PEPNA@N!EV0`>%#!,A@!<,\`U#/!6)`[(9]V"1>XLD>CIKZV+3K[$'\
M'^S,CD8LXS1>XS:^_]G"RS'$6[P^'DY2K+/*6^YV?_=9C*MSR-8$C1=<T)-"
M``!T#!%8$/AS[+[);0$;`%$K<@,K<0-MXMLEW1)'JFC>NSDGY'5F([;>)2B(
M4]*2?,`OE*WD60=Y;J=/<DB'@5!O`))%T?&.]/&.6QIL\/)X(#L\(#R%RNGE
MX`(MX/NR`_.ZY=6;IUL%`.I;<`:ZQ0,_*`4A$@)`?PQ$D`#!4?4.D!P8;@5)
M<!QK4/4"L!P:4!L[@/6R1$O&?EC(7I?J\?4J#MDMGH[1+JJ5C3_5;NW3%"&9
MW6;!:R&V``@H*$:$A8:'B(@"1HL"CH^0D9*3D!J.EAJ8F9N<G9Z?H*&BH_^D
MI::>5JE$1&([8%RP7&"N.SMB8CT`-UY>(T,W0P,#(Q8$$AL;:``#%A,W##U%
M`[Q%11-046XTV]S=-&[@VP0*;@H$Y^?FYF]O'NX>)B4FTP,3%A90$_K[U6(<
M)@#KF&A2PP"$@TWB<%"GH*%#!78J2)Q(487%BQ@S6LS#L>.!CP?8B&03),@9
M'F1T=`O!A@R-)21*!N%!(P05FMZV%5BR;0F&GT!5%B"!8<L6#"X+G+D0(E8L
M(A0"[.`20L89%DW!.'B0!`4L*WN2))DA!I81L4D$O-J1`6V&MW#C5IE+MPJ%
MNWCSSMC+MZ_?OFO6)!A,N+!AP@X2*U[,./&7QY#_O]B83'DRB\N8,[.@0T>&
MY\^@09\83;JT:1PXI*A>S;HUZP!2`LB>3;NV[2RX<^O>K7N*[]_`@5^8<J&X
M\>/(DQ='<4&0\^?."3U/1+VZH4:4LFN_5$E`)N^:3HD?3[Z\^5&J5HD)$:*6
M*S#P=T"YE6\AN#<C-OR8]F.$-&O_T5./-CEU0R`-XS2$#@'L+'A..QY,,$()
M%KBS#S_5`&2"&";4T$0=-4`0APD<I/0-.&Z\`4$)+'*@$@T145211C1BU)%'
M((TD$@8XT:##BP6PH9(+,I%`4PA/X,1#`4LNV4(+V[C@!U`8D*!-`51BH!(/
M,S0%RWJP$#&##&6!0801_U:LE4!87G%A11)AS4"$66)EH!87.Z"51%Q\9E`7
M77D%2L%?A/X5V&&(&M;8HHM%!EEEE6DF*6>A5?J9:9B6AIIKG'(*VVNVA9I%
M`+R5REMPJ/XV'''*M9H<<\U!)ZL1TUEGZR&-,++=KME9XAUXX)TG[+#$%AM*
M*E:LP@I[KL#RB@)<$,#%&Q/T\@.`)E13C1<!%O%&@=R$\PT9X[CA((,,OK%@
M.UZL(`$^%U8S01'9<L!!"4TTP4$($Y#[(`$G&O.#`0485$,<.A`0HXP2U>BP
M"C=R!%)(.AZA$QMXL'$D&R'0P`,&,AUYTS=G`$44"5=LF252-&!9U!8/")4%
M+/]5G=$F5`]T\8I38`B0!%=M@A7GG%P(\%82:>+95IU]PO7G7(+J5>C4,QR:
MZ-6,9NWH8Y!2)JEFE%I:::9D;]KIV;'%%NK:M9GJ-FZIICJ<JW0?QYRLL](Z
MR""W]DT(=KP&WEVPP!IK^.&(&YX>L[7`%PM\4$@#Q>3Y3&[!@3F)2T`4Y'R3
MCCGHL%-$#S^8$,4$*ZPH@3[Y3&#"-0!Q(`$'423H4#EO6*"@!"$6L$+!<321
M^L(,/TQCQ!+GJ&,8V\Q1$AL%M$Q"]"$$0<+U1V[!TTO7_S3E$1T7<!25T>LP
M1E%ZS+$-#UV$2<$#`KC_@`-3Q;*#`&L\`/17825!@17_7Y)"!D[@)2*XI6E.
M^U/4I$8U0EGM:HC*&J.V)IFNV>!KF`F;V$)#MDR9#6V=^I1JV'8;4KVM5'&3
MFV_J1C=8X6U6M?*;K7(EN!KZZH;!2IP.=\A#\B`K6>II12UX!@8/[`!@!1*7
MN5!4CH<HZ$$C,```4B!%>1RD&?9H1H6B4#MR.%%!"GH#!T34!`@4``*_*T"^
MFD`\&1E/(\C+@_)&$H0GK&\,5UB"2^)`@NTMX0IY=(E-QM`Q';0`D'-8P@QX
MM+XY7,&1&5!?RP[9`@[X:`X!@,4.5E'`&>Q!9UPX4Q>Z\(4,[(%-_,N!6+)0
MOQ`0(02O`$,7EH;`!-9E@7AI_V"A'@A!14FP,5NSH&4PN)G.;)"#'3Q-:D#H
M*;61D&TG1&$*@S,W%KKJA=$1A'2B(\.^`:Z&V_'5KSR1PQZ:\YSH1,4/@;@>
M]SB%"^0H!X',(2X%J&M!H'M##SI@`'[V\R`ET$<UWN6!**CKBTY,AP?R58`"
M<*`)#?5=B&K0QAF]\2)QG*-(\+`%E_CH1=)+V39T<*`0'&4)+_H1.'QR!8^Z
M@:2&W$+'O@%2'IRA2^]TWPPTH$GVN-((:^I**L62``WL['%62``M:_DTN^!R
M4+HTE&!Z>9A?`M-1PKP@,35X3,\D4YG,#"&HGBF;447S5-,4S@JMJ1QLYDUO
MW;S5-__!R2M,C+.<Z<RK7O5J!0W\4%GK:4_CG!)/T)TC6NCP``"PD((.\/,%
MCH7`ZJ11#RU:H':V>R(8WU"#&JS@=VOTW1DA4-&)7-1&R-.H3)Y0`)*Z@4EQ
MX,'UPM#:;^PDMN.;0P'"\=H63*D-/'"MCUJ`@2,L8:9N(,(2S@`S!UC!/=XA
M@@;:`LJ<$B$L`5B%`,*B2O]EUSU$R,(:VK!4!#;UJ5"-*F"F2M7"6)4QP10F
M,8O95=%\E30?#.MJ8$/6M9T5K6E=(:O8^JI8N75OW(RK=>9*UUYQIQ-XW:N$
M)[S7=0*164=]G"QN000K&`"RC^T`!"X[@0$4X1ZM,R@[5GS_KC)^V``&64$-
M0`0!*Y2V8:?=2&H_HJ/GX>$,8PC#&,Y`@B=L(28<'0,>PT"",#SA>D1Y`AX!
M&8;Q8>`,80#D%8;\DRUDF<I&T<,=ME"%J;Z%`E5X0!OB1Q6?.FM-&0@,!4ZI
MIPQ<`3)*;4MYFW;>IZIWO>QM[V#>VRBLRG>KQJRO#.Z+7_TV<[_])94)_PNW
M``MXP`0VCB`,#!V]\2W!"L;5WW358$J($X?AH;"J5[WJOOZ5DXUKW"S<PQXB
M?)8,Y4"7@^+91,/:LR`%.X@!/MO9%=RX`CG6<<0T2A*9B$0FT+:>]6("Y6I;
M.TM36AF5C,+M+=SAVT:Y@_[T=P:I_U#E!`\X0Q*F`@9TGS('I]Q#=]VBISWM
MN4]]QN6?^<)+02>`T(J)KP7GR]6N,GHTRW3T?IT9Z=E0NC>6)@ZF,UV<W$PA
M"W$;5<-G(X5,*?SC"R?KQ-G*M[JR^N0H%T]Z@BC8]\`"H02*^4'5\885&`0"
M,!YV9RG*,!SG.*/,CK;0A7Z]:5N[VMI.^E&,TF5O?UO<XT[W&69&%12,YDY:
MB3>\Y3WO>N_IZ_9FZM/0N^^]]!N"#D`,P"D(*18,$]$&]^K!4<,'D/-7-B-L
M^,,M/@41LL8&CZ),`JI6M<`$9@:U-&6W%]_MF$B;Z$>_W@&23?G*:R3RF$<Z
M!I[0/Z_K*?\,#;P",64PZ=WL#5<I3SWB7JT>=^8T6M.*5CDD``"#W#S&G;TQ
MY8'.XQX/_??0SGSWO.>';"<]2^%^NO+''8`,.T4,\8Y^#KKN^0.*78%^+OO9
ML:9V0K.][5J=U&4T6/!%RYW1"0>Y:DPC]TK90##P3_,9SI!N#.A()';X@_[W
MS__^^___`!B``CB`!%B`!GB`")B`"KB`#/A_%0!EQ7<];6!X59,`,N`:;W4=
MDG!#JI=7Z=%.[@$?CB,+M<`>G94ONI=LO$<Q=`1\+BA\1$%\QG=\0)%\RO=M
M4D<!=\(S1.``T:=UU%=]86=>8Y=]^[9]B9)V@[9VW_=VDB(#&93_:,?T51U7
M&E+@=H#G`!18!7"Q!ULP?T=1;?<G(PO0@&9H@&5XAFJXAFS8AF[XAFYH!QG!
M!E#694NS)WXA>IA!>KIQ`=?1@<6R3LJR+(/%!2GX<SO6>RWH@K\'@T!1?#-(
M@R]S@T^7;OH3%0*`+$80`#[X@^\6A-67>'Z"?4;X9T@80=WW7A1404[X-9SQ
MBI@!>(^Q*(.W%W?X`.,CAB.!$15@![YH!VD(A\(XC`F(!,9XC,B8C#&PC,S8
MC,[XC,^(`-(XC=18C=4(C=B8C<V8C-R(C,%(C."HA@L@(_<7@UTV?_.7`7WQ
M!7OH<%,00Z2V@2AG8:EPB*>U@K['B(TH_WR/6'R2N&U.1XGT%W5A!R</('U`
M*(3U)HJWA%YW47:%YV]*^&],:&A>XW9?H!B$08&V>$H/4"4@(T<JT(N^N``F
M>9(H^8WAN)(+N`#0:(W2"`0R.9,TZ0,V>9,X"0(ZN9,\V9,?\)-`&91".91$
M*0)&^0%&*0)(>91)N91$^910*90].94\B9-6>9,TF95``)/2B(TJR9+@F)(+
M\(MMA!'F.!9F=QF>,6E=<!P:>`EZ98\7A8^+J(^0EWG]&(DT:(,W.'_C-I!1
MYXD)J9#61X10XY#I98J!UDL3"7`.@&>#L1<4T`9[L@=@^!,QP09Y,!%@V9EF
MB`0(P(P(D)4V"?\"/F":5`D"19F4K-F:KOF:1QF509F:M%F;IEF:-WF;IYF;
MI6F;ONF3L@F4L#F<Q,F:3YF:NXF:/J"571D#H8D$GAF=_%<!FGD`)(".>\`7
M=Z:6^Z5I?V,L<OE&B<B"SV:70\>/,OB/-1B0E"AUZ!AU\'F0T@>*GL>0#4EV
MBGF*OC21A7%X50`GF'D`FUF28OF5TOF&"X",,8`$T3B-5OD!JJF:Q4F<1#F5
M6@D$"]J-&FJ,?\"A'HH$)^E_98B2!TJ,!KI_)OD'9?BA'=JA&WJ,&:J@%WJ:
M4[F:$^J:2ZF4/QFANKF<U^B,#,J-)9J`*/F+%L4&?ED%BA$;&!>/D:#_`>%I
M/.-Y?^9YGGB9GNHYB92(@_'9I?KS@]-'F(7)9_>I;^JU!H6WF(.!IHC7%NG&
M=-?#!@+:BR<ZI'#(H,Y9DZBYDT(YH5)9E5=IDUM)C=X(HB2J?RFIHOQ7IW;:
MJ(ZZAB0:HBF:H,AHC4"`E;C9FSPYE#>JHT`YE;NYG#/IG,L(G8_:@"H0$B9Q
MB5'Z,%.:CU5:)%>*`9"8I5JZI5[JI6!*GUYGGV4:-66'9FTA;YB9F6Q@$71Z
MJBUIDMVXC*,IDYJJFIQJG+&YHSL9J(/:G,S8?RFJK-[ZK>`:C@GZ?WCJK-1X
MJ8%*HWP:E$KYFL<)J#;YK*%9JMT8HH[:J@[S_ZIU&:M&%WEY::M\>8.YVJ6[
M*J9,8YB`0G9W,1=Q\0!W$*<2P:CA*H"4BJ?6N)O"Z:?6:IHRB0"FBJC_-ZD`
M*+%$.K$F>[(H6X`DVZ*FFJ#!V*W^!YHSF9SLVJF>JI.GF:W4R(S("([X6B/Z
M6I[\6A+H2:O^F*4!NWP#"Y]@:K`'2X1HYE1W09FX6"69F0?("HPIBX;.B0":
M*IPYVIJ?VJ.B.JC+2(`KN[5JN[9LV[8!*+(`*)K/"JU6J9,0^I/MZJZ>NK$W
M.8T?FX`_"T=!VVQ#ZXA8JIY)RZ5+^Z7R^8D&6TMB$6^X6'23-Y(D";-J:XSF
M.HWH:K=XRY1["Z&Z.?^:T\BS'.JVJ)NZJKNZCGJ2,"JWG.NUT<JN2%F[U<JW
M@FJ-,1"X&4&7^UJEAFNT>GE\B0MU2[L'!RF?8<JK]:8_<%H2DT>GB;JV+MFU
MZ*JN&=N4LWF;'6NZWIBVK!N^XCN^Y`N6*-FLR[B5U[NI?2JV'\"[J+5L03>T
M_>JOA_N/?(F+,+.X3,M=8:HGEGD'5IN9%N&+JPN:H_FU8:N]HBNH9KNHY1O!
M$CS!%$R]*IJ&+AF:,ZNN\(M104N_1%NTM8JT[#FP?AF8\"EN6^`')'"L%3"]
MX*J2S%JN>7J:G^NN.+N507J,+XO!%?S#0!S$0LRV':QL-S(QL,JOP3O"^,O_
MG@(+GP.YPHX7!-%KP*A;PS2:O=6*L[F[H"@*OD,<QF(\QF0LG44,,1\,PDM\
MM$V\I<IW%$$@$LB:K"@[PYH;`S*YK@N\HU@YJ*<+QF4<R((\R(3<AJ6U>VD<
MJT?'PM<3@<;'Q-K&=-QF,G$ZDH#\J`S*N5GLKA#JHU_YLH4<RJ(\RJ2\AH>L
M@HD,O/SHCZPLB7&*M9:KM2>KDLY9FEK\J7WLQ:6\R[S<R[ZL@*>,B/*KB(1;
MN(O,PE0"B5`&O;%\J!.;H-9[J9X[E%QLMAEZR;^<S=J\S8$<S/>8RG99=)DW
M)<M,Q0.*S26:P=#JN<;)QSK,S?`<S_*LS=X\E^`<_\Z89\Z6B[DIF\#2&K;6
M*JH>B\[S7-`&?=`27,_B><\O.,4N#(S\'*YW/)IVBZ.F^9S&2-`(O=$<W=&J
MJ]!2.LS$_()Q#,O2J[:US,Y->:U;&0,:[=$P'=,RK;8@?3Q8FUIRFL0Z@K42
M0:`F.]'2+*WMRL<^&IHS?=1(G=3D6].]"\L1HYDY/1(\QM.R/,O.FL<+K)07
M_;=*W=5>_=5MR]0>[,$W(A(\?;DO#984+:':R[VZ#-9P'==R;;)BC5IHS!$C
M"=%IS9(+X+4W?)0^6JJ*.M>$7=B&;:=U?1$34=4_C<>;O-(<J\M[?=B47=F6
M78`5]3`];:\GB\<5O=*Y"_^BESW:I%W:<$@\-$+')@O-CKW'(("AB#K9ICW;
MM#W:;42@LJV`*[O6.4K4&`J=N5W;PCW<A_V+G.VMK$W1-]S),KF,P4W<T!W=
MTLW7-<S6.KJ<,1#;T[W=W-W=RHH$TARV.8P`S^W=YGW>Z,VM%BO427G1@IW>
M\!W?\MV2CFW=?$S>\YW?^KW?<6O#.7J;1LW?`C[@Z`W-7@L"K6F:7$W@#-[@
MT>W9O<VQ`>[@%%[AI9W)X3V;?FSA'-[AAYW!_GV4[KW@'E[B)I[4,7":QAG8
MY7WB+O[B@XSA"-Z4/O"<,'[C.'[0X&W#[8W=.?[C0`[/*<[6/^G)$1WD2)[D
MH5PMNR"``$K^Y%#.RPO:XE%>Y59^Y5B>Y5J^Y5S>Y5[^Y6`>YF(^YF1>YF8>
%Y($``#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>y90591by9059103.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 y90591by9059103.gif
M1TE&.#EA"0$@`.8``$QQ4TUV5]'?TY6PEX2<AS)=/\+4PK+$M(ZJD*K!JN#K
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M]UEW7U)_7<#0P#]E2#QH1A`Z&YNZH*>XJ,G9R*.WIR18->3NX_W]_<C4S-#9
MS[S,OJ"OG]?EU[?+N;O*O=[HX.GLYA`Z'1`Z'(>=CA`['?___R'Y!```````
M+``````)`2````?_@'^"@E55@X>&AXJ+C(V.CY"1DI.4E9:7F)F:FXR%BH57
MCYZ<I*6FIZBIJJA6K8NM5J)5K:.KMK>XN;JWLZZ*M(F+A;VUN\;'R,G*D,5_
ML<O0T=+3DS\9%]C9VMHP%`K?X$Y#P=3EYN>[;"8W[.WN[CL8`//T`&4A^/@R
M*@O]"P@,`C*XTZ9@&SU&$I986*+%EBU=."A1PD73,U7!+J+;F`N+GX\@0XH<
M29*/R3U^3((TR0<E2Y9'WEBP4,!,@P9/$`P8<&#)DA,3)@CHT"'/D"$IK(0B
M)`B61J:$AD4:IC0JQZNX/)+<RA7D'I1>4ZI\29;/RJ]@4XK5,&5*E#12_S#$
MB"'CP0,"`U8D`&*@AX(/5K1<:2;UTQ]RA0<UP\JXE-:ND$7N:?G5ZU>S?B:'
MG-S2K.;**<%RYAPZY1$-&D1(F&+"1)0;.P(T"!)FP(8F'RJ28XJXBA8MC8/;
M>ARY^$O.G8]W/HM9+=KGS3^29@F6NLHCV)DP04V"!)4HL6<\60"ACIL#1-K,
M@?/!B]5"2I<*GW^)>''(9$.3O2RRI?[0SU4V5EHK^4<=<F6-1EIH&DC`P@YH
MS&"#"RY`X$,"=U"``@=7R$??AY+8=U]D!$J75HEGH:0B6EYY%MU(H*'5W',D
MCK1==U10(8$)&$2@PQ@)G/%#!4@44<(6'!SV2_^'%[F2Q5._*`D5B*>(..*5
M6&:IY98C>?91?GNP4%,0"`BQA!P3Y-#!$%O\ID4663052Q9:^+);+(DL1N4F
M5G+IYY^`;NF29B]]>1):J;F&@0=EO+#`&D#8`<4@=/KBX2%PPGD(E'M6TF>@
MH(8JJF6490:=2O_1N,>-.KJ%00,JC)#!$D)U\,$65P`C")WD<-KI))^.*NRP
M?TYV&8*8*7>L6<S*Z,<18@(0Q`)BG'="#SC\FDJPQ';K[5;1@>:??BX=*.-R
M+&6F$G)'B,#"#1B`$((*8S@@0`K:\OGMOOSV6RQ+)%A@A@X)\-!!#3BDP*$@
MOR&BF"]2.C-(+!13PZW_OQAGC#&"8I'``AH`U`5!`ALXP0&<@L'2R\2!.1.*
M%:#DZNLQ%VML\\VB3J=NLF`Q08);:'A@`PT('##'P45LX9X@N88RS&!5#/8'
M<-+4C//56&>):F?'7F8=2C>N5D``,D`@Q`$G4/`!%%`?E@@M5$=C==9TU[T5
MBZ52IC?7QFXFEA\!`_`$`2LDT88";2*RFS)SV^VXW9IE9JAHU6%&^:!?2L?'
M:21((,$.#=1;0<)=>''IQ!T]KOKJ=9O4KA0S$'Z``2BT(#.3E,;)LF*+1](X
MZ\`'#ZC>7ATA0108-`J!O4E*[`S,O6/RN_#45W_?H9^1RX0(X`FMP@!TS)%#
MJ`TM<*'[(QU",KWU[+??'W+'FLH?LRV1`#H"2>`A`!)D-.4;]'](WR/6Y[X"
M5F\Y`$+6N>#WE2-XK``8L`$8'*"`7,$G1`;,H`9)$J/(&<@S)T*.6E*BAB-L
MART`^$+!D("#+L3!$03<H`QGB"4F\.@%!!C!!>S0O#_`:0Y]"*(0ATC$(AKQ
DB$A,HA*7R,0F.O&)4(RB%*=(Q2H&T0<9.`,/*E"$\F4A$``[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>y90591by9059104.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 y90591by9059104.gif
M1TE&.#EAOP#H`.8``/V\>E636_Z3,_^)`T2%3/Y](?ID"OZ;._[HSJS.ICE\
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M-Z.`..#JWN"$.8BGAK]J(_ZM3-*=;OSOW7BK=^)]*GVN?/VX<<A]/KJ-88VO
MC?[2A_.,,["B7?&$+/[!7NZG:7JB>_VG3E>#5?ZN/.]])^3`G^]P&^%U))*S
MDOZ7&'&8<7RJ?YVXG8ZGB^F73HBTB]>J?^YB#_6A6G^9>____R'Y!```````
M+`````"_`.@```?_@'^"@X2%AH>#-A@8#FDP)8<W&`B#)3!=A%U%:468B)^@
MH8)%BXU%(**$DAR&)1@WJ;&RL[2(2P.X`TLIAS8#,(-%`[R")5MTN$N4M<R"
M"[FZP+)A`["%70,VS=O<S;>+&&YT72`(,)=_OC?G""G9E"4G)VX.R$66F.8P
MYI;F();[,)T;^*?+P"[F!.T;](P.!EQ;$)@CIP\!I($P0%"[@2#?.6$V0!P$
M^"<A1G;=4M*Z-<A)MBVX3HRS00>9S%PG_@BC0^G&@"+"PJ2#)@Q7%QM.ELS[
M,\#-+3HPD.)*L\0-JP$8&`YP"-%7-1@RZ9RPX147!FING/!RXZ9I-A@N_V66
MD?GG!%:<MY844<E7%,M1=-*TS77#UXEG=S'LY3"L4-"AN,(@V`I@<LVMV.BD
M*'N8CA.:3H2ET9K+31%?'6#`1#9@RQ)DK*EMA>'.S8(TR=RD2$'G%EMHJU/`
M%-JW^*'7@V"FN(73U]Z:[H@)2X'J:)DR`X26Q:2KQ&1H,`:<L)1+J$08KY$1
M^],0@]TMOBS:S;7EQA+FV;>Z*;'Q3_BMVI10DTROY5)$;R4\9MR"@]Q2PH-N
MG``6-&[05$8)]T6'BC!N7`*3:0-TT,5@`W"W1`E=])9+>%G]-T`:"1:!P&HG
M+,/>``!XUUI\(#AQ66N^#2;;``@<F$*"6ZEER?\2H25##4^]Z90=@U3B)Y83
M=<TW7EF['+B+("G,A\LYK$%CXH.\)<E4B[K,UYLF&HCGR8W`\5@&<YKA&5DN
M4)$H'FY;I5$&#$X5`8-F?T2I()7&X>>$:?ZYU%0)7M'A1AE%B#/:'R5$.":G
MQT!38J(GZA36:%CY-\!M@5+GWPEEH.(,3G10$%]))^25@F6`4N,+'7^D4:8-
M"-B4!B7(E.$++XI.R:AQ1=P@;4:#('##7OYQ9*A"VPX"PRF5``6#M#=`<JVL
MFDAS`RM=K./?MEV$(0\KWI+;2;:0C,(1M^.NXR^VX[8+3!>8RAJM)>7JM)>U
MTCSK\,/-%!M8OA!7;/'_Q0LBH%3#&'?L\<<@ARSRR"27;/+)**>L\LHLM^SR
MRS#'+//,--=L\\TXYZSSSCSW[///0`<M]-!$%VWTT4@GK?323#?M]--01RWU
MU%17;?756&>M]=9<=^WUUV"'+?;89"<-PA-HIXTV"RS\X/8/.G`@M]SG/&BW
MW;*6;?$3;;N=P-^`!QYX$.06;KB]'.Q#L=[%/7'%%3\(+OGD?Q-^^.67<]#1
MXHS3<C;D?Z]`^>B#8VYZX0M(:V@7)>3=>2@@@)Z`Z*377OGIF"^@^^ZI7XO.
MZXC$'OD*Q!=OO.V36X[[#;PSS_OSUW+0.O""/#&\\=AG3SORRIO^_/?@Z^[[
M_^O6SZ[]^:(7S[WWXH?O_O,R<N[UV=>C;__QI'=/[OO\N[\..?.#W/T&J+W1
MZ:]_"/3?[[+FN-E%X($0C``!)RBY)C@O@1CT'P=8YSJI_6`%$0RA""=X/\`U
M(8,(!(`*5\C"%BZ``QULFO5`*,(:VI"$!3PA"K_7PA[Z<(6I0T`,D08"%B3`
MADA,H@1Q*#H=HO"'4(PB`%YHHZ193XE81"(3G9A`($KQBRX4(A%_D,4R*I&`
M7'P?&-<811D9#01'-*,<;WB_-#Z/C7C\HO2&]H0$U."/@`RD(&LPQS.>SXZZ
MRZ,BI;@OH%W!CX.,I"0!6<@09B^-B\RD%._5,[Y%8/^2H`1E)1^(/4QJ\I0^
M7(#\;/;(4+K2E1`DI!F)UX0IHA(`8<BE+G?)RU[Z4I<OG)/-?O!'%0!2!<A,
MIC*-&4AFOC*0<ZSE*7])S6I2<P$<DUD?E\G-;GHSF<^D9!:EB4=KFO.<O03`
M/6;VR&^Z\YW<?"46R2E%=-KSGKE4YRI5=H45=',(``VH0`<*4'B"$Y9(I"<4
M\<E0=`+@!D-,60((2M&*6C2@[T1H"!7*PH:&H0,@#2DO0TK27I*T`[U<0$1-
M]H.+NO2E`G6G1A_(414RM*2Y/*E.=XK3D^8SFRB;:$630-2B&O6H1H5I0;TY
MR0@JU)XEY:E4ISK5G+YPGR'_`T%+AX#4KGKUJTEU:3>;&@$EK/"<5$VK6M?Z
MPI5Z3*M<!:M<YXK4BXXUDF5%ZUKWRE>>8M.M%[L"49F`5"88]K"(3:QB%4M7
MBC(UD$JH)D@_VE>27N"RF,VL9B_;5U6.[`HJ*"IA%TO:TIHV"80%JV.5*<C(
MFK2R'>#L9F=+V\W&]@)356G(KL!5TR[6!,`-+G!]6UK5#G29@'2M+B?+U]HZ
M][G.W6G"//:$%9AVN$P0;G:%JUWNFF"[Q/TJ0;FIW.9"][SHK:U(UXDQ./X6
MNX;UKGSG^]W#:I>TJ.WJ>),9V;7B-KT`#K!F8PL`&&+L!ZC=;GWIR^`&RS>^
M]5VL_WZ/JP(E^%?`4\BPAC?,X0X+&+=5?!@((M!=!YOXQ-B%+V./.EX+4S7`
M'8ZQC&4,X`4(TV$M=;`4I&""'?OXQT`.\HY1'.'$>A6C+CXI@&?,Y"8WV;EA
M`"J5$#Q?(5OYRE@&LH-7'-8A)#FDYW6RF,?,Y-G:^&%/2`)WLPQD,+CYS7"&
M,YM_W&`N%]7+8+ZM<\G,YSYS>,#LI1(+MGME,$@ASHA.M*(1?6@L/UC%ABVJ
M$OY;6S]SF`*8SK2F-XUI2V_XLF=FT(A[+.1%@T$$J$ZUJE?-ZE0K^LK>!:^1
MDS#I2O.9T[C.M:XSS><+A`%<"TH`J7VLZ%8;^]C(?K608_]=9,+66K-]WK6T
MI\UI,J=F0:!M,Z*1C6HO>/O;X`8WMU$=9T?'&K'/OBR9J<WN=F^ZR1V8+E^>
MH((=;_O8X<ZWOO?M[60S6LO=/:P2IH#9,;L[TQE(>,(1KO"%'YP",^Z`@56B
M51/$V=C\SKC&]VWL<@?YW#X@N)@/WO"2F_SD&7BXAQ<0XFT\@0EP9O7&OXV#
MFMO\YCBO^<R]T&HY?YR[/KA`DZF-\J(;W>C4YG`'@,T-.)Y:YOK.N=2G3G6I
M<WS5/J=S<$,N8VD?_>M@/[JT-2QQP(J"!298==2K7G,>N/WM<(=[VWG`=IWG
MF]59'S)PN7YI78?][X!'^:XS#(#_&WLN`:K>=]7CSOC&.Y[M5R?WFP'.]PQ[
M/?"8SWS*=2UQ;OQ@[3AWO.A'3WK&6SW<6'?SC_F>:\V7G`VPC[WL9\\&UR]\
M\YJ>@I1CD8!\2[WTP`]^XZ=^=U>K?L<A]WO@:<_\YCL?]H&OMFYK`0(I@#OG
MI3>"]K?/_>Y[__O`SWGQ)6_HY&\:\,]/O_J=_W=-7\#PJ>B]%T(_]\9___[X
MS__V1=_VFZ/>^&#@`^>W?.M7@`4(>)K6<J*09C='=Z*G?Q`8@?CW>'1G<_\G
M`J<F@)CV=P;8@1X8>V$'<=8P"S\@`@W(>!+8?2&P@BS8@BR8@MS'?_[W;:JF
M@13P=1_(_P8.L(,\V(,^Z(,?^'44("*TH`+UAX(0Z()*N(1,N((2^'@6*&XB
M((!'9X`_>(58F(4\:(!&=P$3EPHL@`/VEW]-6(9F6(80:'HSZ&T^8'3JIX5P
M&(=:N'XHUP$*>`@@L`)QEX1GV(=^Z(+Y-WQ1Z`5M>')O*(>(F(@]J'XG=P'8
M<G92L(??]X>46(DM>'^":'>%J'#/IX@["`Z@&(JB"`Z>Z`#L5W(YD@HUX';X
M5XD,\(JP&(NR.(NP:(D3*'<UYP.UEW"=F(BC^(O`2(J*^'P*-P6/^`F?QP/W
M]X>TV(S.2(N4>(MN)X8XL(G.AXC!F(W:6`IR>(HI1QR@H(>3>/^&SUB.Y@B-
M9XB)<G<&&=!\<KB-\!B/C!"'S9=P418*3.!]?GB._-B/#-"'X/=V.'`&[AB'
M\GB0V8B(]>B(H/`$RJA]Y.B/$CF1_XB&WN=V!"E[<(B0H*@!'OF1(*D!'"F,
M<SA[A?<)"<!]9DB1+-F/Z=A]&#E[6CB2X!"2-DF3W)B%M)<!=P@">F`$9=B2
MK_@!1%F41GF41"F49MA]&3F3VVB34!F54AF2\%B2T-<!B'`%/!"4$HF47OF5
M7CF12[E]!.F4P3B5:)F64:F-GXB%(#A$*;F$70F6=%F72.F/34B669B-:MF7
M?DF5">F6;'`!0`4"8""7_&B7BKF81LG_CWEI!&>`A<#XEY19F1X9C&WY@VS`
M=(+``DJ8F(P9FJ'IDDL8F3UXEG]Y`*JYFJS9FJZYFG\9F#](A(3P`RUHCJ*9
MF[J9E.58FJ<YBFGYFL(YG,39FFD)C%=(`1SS!#6P@KBYFT49`-(YG=0IG=!9
ME.?8@I$YF6A9G-[YG<*)ELC9@PPY"%<@!2'PG-=9G>QIG=>)G<^HG=PIE>!9
MG_:IFN+YBSV8`2/X!U=@!,^HF^TYH`1:G;L9GRMX!J+8G??9H`TZE:/8@V&0
M-PG@C(Q9H!B:H03*F/&IH!T9E0X:HB(JE1'J`%-`+W\0`<T8FAK:HBX:`!SJ
MC!ZZ""`JHC;J_Z`D*HJFB*)#,(L7^J)`VJ(Q.HL>6J,W>J0/"I41^HAZX*-U
M&:10"J2*28L*:J0V6@58FJ5:NJ5:BJ1K&8H9``"#T*1#J9A1>J8O.J6Q6*4@
M>:1<^J9PNJ5>"IBD.`5C6J9?B:9Z>J9U"8MG$)(.&J>".JB"BJ-TN@C58P=/
MNJ>,&J1]R@!"\)$-2JB46JE<:J@@"0Z48)M@V:B>"J5T":D8H`'W::FF>JI8
M>I]*"@L_P`!Y^JFPFJ9?":FD"IZH>JNH:I\W*:85ZI6Q^JNRBI21:JNX6JRG
M6I\A*10)@)33&045T`+/"@$N2@)1T`(!4`$O4*W`*J5'.:S$::S@FO^KWYFL
M?["L1DF=T-H"ZEH!)."BV4H"V!H%4="NV^JBW5JKPAFN52``_-JO_OJO^EH%
MX/F10K$"T4F='P"MT@D!V!H`+]`&!$`"!/`"+P`!$DNQ%+L#%8NM$TL"$$"Q
M$3NQ$_L")%"R)ENRP&J40C"<N/JO+ONR,-NOQ3JN&I`!)8`#1-F>ZBJ=+U`!
M.W"MZMJS%1"MT#JTSUH!UUJM2%NT+4``Z3JT$7NR4ANK1;FRKWFK,9NU6NNO
MMSJN#M`%1O`!`_JT%1`%$?NL`:"N\HJM'ENM+>"L#/L"T$H";^NL<ENV#-L"
M4KNW>[NG1&FUK&FI6SNXA.NRINJ=D\``!*K_L-*IKO`:!0'@K&];MG3+M@I;
MMHZKMIB+M/!JK7S[N2:[IX![`();N*9[NL<:G@B@N`/JK`NKKG$+M-2ZN20[
MNW$[MRT``78[MW2KMZ#[NR@;I8!;J:?[!5K0KU\`!?PJ`QOP`%I@!O\*!=*K
M!6@`LUKP`%4`!5]@J:HKMF,[M$4[KY3+M$=KM.N:M`K[M.KJN\\*O.Y+KT"Z
MLI1ZNOVJ!<HK`S*@!16`OP]``_Y+`VB`O_Q:`?]+`U_PLE!``U50`5JPKP)`
MJ,.)`-[;GG*KMK7;M&W;`MGJMFHKKW1+L5'PL6^[P?-*K27\OL`;OZ0[J/2[
MO/:+O_F[OS)0`0\@_P%?0`,/`,-HP,`"@`8T``70&[TT,,/'*[,0[)H2K*$H
MO,0G:[%,C,(N*K]Q>KHP#,/V*P#XJ[\2(`,X',!5C+\,C+]O0`,;(`/]6P%0
M(`$)+``,;`9G?+P_;,!PBL03C*%/?,=XG,(:*@2"6KA?7,4OG,4RK`7^^P!>
MC+\Y$,8R(`$,+`<X3,@;D,",?+V/3`,"X+\;8`9QVII);,=Y_,F@?+)[#*>$
M^\=_',@QG`/X*P%RD,!?4,6*/,D/``4!K`7V:\D\?,L5<,G*.ZBLV<D#*K4?
M&P4@B\($<,)-#`'*[,2A_+D8RL=;.KBF/,V1#,,/L+]04,,R8`8X#,.)K/\%
M66S`TIO%M_S-A)S-EOS#1KS)!P#,[+FWSFJ^S/R[<+O,]GS/^*S,S1R\[0G-
M62K-TVS*R?L&,H`&"9R_-*`%K$S#L*S0-YS&A/P%9@`%MTS$"6P&7[#+/^S`
M#URHJ]N>GUO//5O"'_L"43NQQ`P!QZS,V5JQ^?S2]QS*_?S/61O0-LV_!2P'
M$J#&_YO&.[W3!0P%JLS3_OL%LRP!9'S#_VO0#V"X<_S1U0FZ<$L"(VVQ1>NS
M0CNTV5H!QVRT+@W38+W,><R>1$#3,'O3T_S3:KW*:MW6;;W(9H#6,K"\<QVS
M3QT"U`F\\0R^RFRW3JO!&BRYSMJY&QS6ABW6>$S_G65=TW*]R&[]V)`=V6O=
MV'4-LV^J`0A@!-/IOLXJKQJLS%<]M#NPKL_JK%W]M@1PV*JMST\\G4#`T?]*
MV9(]V[3]V)1MUUNJ`5TP!]+YOH/=NRJ=KNO;V3M0VA7`TNFZVLK-Q-.)!&<M
MU[4=W=*]TXV-VUF*`5V0`$MLVKJ+MYW-P9L[N7\MN<I=WDLLG<X=VV@]W6Z=
M`S1@M!:PTSE`R(^]`33PTX2L!3D@`3X,S@%MW1=0K@&`PO4,`=#:U^"[`Z/]
MK$^KTN#[U>6MVE`<`.G=K]#-WFT]QA2MT#M]S?>=X>_]TPE=`1L@`?V[Q39M
MV5@:X`DPX.Y[V*FMS`00_^,ROLPS'N$1_KX?4.%8;-,8#MEC3`42L-\F+KT?
MKM8_7`'Q/<D,/,8ECN+_;=E8^0,?`+PX?N58_M+NN^,6[N,__MAR@,8_O-]R
MT,I'_M-R<,WR+;U0T,H^_=,W_;)5(*97$`*_F^7X/.-ZON=\3N-X/L]\*P1!
M[.5?/N0Y<.B'GL#26P$%<.@/_=@)3.1H\`!IGLT/\.10/LTOJP$-(`AV`+I_
MKM)]/NJD'NJ_*P1TG=9?CNBLWNI44`%R<.@;0.*(CN1O/N3YS<`TH-/4'>4N
M"P>>_KE83NK$7NQ\GN6?2P0];LH8WNK.CNC9G`.S'NO2SL#/_L-H@.0/<,T%
MP/_`;^WK_>H)GR[,^=S5P6VT9BOJ>VVV%=P".]#5[V[LQ8[C?`L$JA[=SY[O
MAVX!_<OF%G#H^KL!A_X&#W#H2"W4T`X%;T#(<4#B;IWB_%H%?3`(XVZR,%VT
ME>L":VO2,][!\8JM9>O7\C[R.7ZR2,#LM:WO*C_PMJP%5(#H"_\&`[\!_R[M
M`H_H&Q#K,4_SD.WK:D#QR9S/=YN[ZCKC/<OQ3FNV!!#R/LO@33OR4&_>)O_'
M^+[RSFX!6)_U6I_U5N_LT1WE(Z@'%O_2Q:VT(KR^[J[GJ-VS@+V^V!KO4$_R
MJSWU59SR7;_U>)_W>=_U1$[;IOS`C[@")0O39>^T7/W_W>H*]THKN1H;!0JP
MKM6*]'$O[Q+>KB</P[2]\GJ_^9RO]U;O]U\L`!B@`X/``AX+TY++M-#Z[B*/
MTBTP`64;[Z-MM[$_^5%_V):/^;.M^9W?^[[_^9)MRG9JGA\`UGN-[B$/K2^P
M`XZOMLJO]I,[TK8_^8;=KG'MV)#-^[Z__=N_\L%?Q0?0Z8,``G>@VD7?U<]J
MT@I0MA.0KBZ@Y\ZJ``ON[@I>_]-/^6!]!&:P^_D."!:"@X2%AH>(B80YC(V-
M$I"1DA(RE0(-?YF9"1"=GIT$H:*CI`0[.Z8*IZNHK*ZOL*BELZ6?MA!'DY..
MCHJ^O\")O(^ZD95Y')J93R2W_Q"TT**QT]2NT='.G4<RQ1+#C,'AXK_?.=V0
M,GU=RIEUM]>DU?+SK_"CV4+=W^.#!?[_``,*+,#/PK=SR-AE8F'+WBAZ$.<Y
MO&=+B+E=P_@-W,CQ'[^#W9(IO!+@V413$5/2.VF+B*Z,P3K*G!DP&,A(9O*`
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MY]Z`O<&'B!G%V??#,Q'MYR!Y6)5R!("("$C@A05R5%H>"-BGR0?T/"AB>1&*
M,F$.`0HTH`<LMNCBBR^ZIV$A.:3FX5D0R#/BCN.52(`5X'2VT74P%FFDD=?-
M*(@9.]WXQQ-K5,/CE,V5".1N0_9VY)9<PFC=1H/<X*0F/RCW"I5HTL86!%94
MF*5H7<;9)78##0+#F)HP`$N:?#(G$1%8!J2EG(02FF%-9M3_A^<*9_;I:&R8
M$0"HD(+"6>BE7!X*D`5]X*D)"R">\NBHLU'3AACK50I:G#VTZNJKL,;Z:IRB
M`82&&DUZ^@<9J?0YP:_`!OOH-&U@0<A`H7$IZ[+,,ILI:/Z@@82-NC+$9[#8
M9OMKFL2BT8^*JV[9[+CDNKIE:`5@P459NFIR!P%3:BNOMFC&<H2W@B#[F;CE
M]CONN9\5@$8#N;;[W0X/SJOPPCS"<F^^JBYVI+\4DPLP<&CLH5>[RI3IX,(@
MS]NP*T=\"U"R15:L<K-'+O;&QAQK\L0<"#L7\LTW/T@RQ"?O"Z/*(P0M]-!$
MJUPD8F]@443,"CW11LVTX2PUR`[N_ZRO8BG[2_367`M-\=%8[,$T3RNT,=O4
M:(>\'RMM1IS8S^1V+??<0Y?K8@QOO)'@V#+7839L:0?.L'ZK6`$NUB^62_?B
M=%O,8M*X\CW2&H`+;KF\:^]@N-M9,\OXYW-;C#?!DO.TV@Z7IXXYB6+TC+B+
MS8(N^^+.8M$`S*6SPX+9JO<N+(0;6/"/Q'#+.OOQH<OJ`18%Y\[.'`JH[H(+
MOF_;XP;#$]^BY\AW+S>L'@#!KO-1D1&]U-.GK_[ZZ5M.'O;^:,\B]][7O_6K
M;XA/OEG(W<S^_P"<7N#X`[\"R,\#RT*>`1;(P`8Z$'FMP@(6NK,_GF0!=?,*
MH`8#F#;GP/_O@,:3G0-'2,('@@X+8PA"!??RA#NT05L;C"$'I]8<[($PA(PK
MH0YW2+LO`&$/BEHA3W;'NPG(\(@;Q%D-#?@Z!.)0;CN,HA07R+4X8`$(7'B"
M$+WC0@4@\8L:S!EM-B"_)T)QBFCDH=#B((<)XFZ+40%!%LP&QCJR3XR0LB%B
M$A>KQ:7QCSI<XQ>H!4?)D.&%=DRD`-46&P*0\6VP@Q7=`$G)$HX@#F\04R$]
M!`(RH$Z1B60D;`CPA2;V\8R53"4#+QD'36Z2DYXT(BCK*$H%M*&4>XRDJ^:F
MREXND(T4?*5]9O;)68)1E+>$Y/PDV35?]E(.&]B;,#DY1V/2<G#_$S@"+F.@
MRU:ATIF4W``6@SA-#_W`#VWXWPS6R<YVME.1@U/`$=Z@3&9R394HR*<^]ZG/
M*(H!BV\LIX=`Y<7IN?.@"%UG*$4V`2LHTXG>;"8@^4G1BO:S@7S8P!B`*%!=
M@6`.$TAG0D>*T"\J[#4.S>4R([JU-%KTI3!%@0'$((:P:;&C'KV"'WY%TIZ^
M$XDB2VDW>W#/*<;TJ!2E@AQ^V(7FX11/5SCD"US@4Y\"%7-"W=XNBQI%I'HU
MGU2H*1QN^E2F):`-4ZVJ564X+S&HU)Y#,^I7D9K1,8ROK&-[0AW2JE:2LE5>
M;N7F2ED:UQW.U:M+U1A><Z?7%_:UITF4_]<CM;K5PNKPL$?E`TWMNECG70$/
M+^#K8TL:1FWADK)$)5I7,?O2C/X3#@'M;%X3L-<7C#:AI<T6/04+T=1:EH2L
M?6E8Q[`NI\I6<BS(0FAM>]N?SE!8D(3K"`P;7(IJ]I]!,.YQ<Z?3-K2AN>Y\
M+K!V$-W*"NVRU=VG:\=`NNW"\0EGG<$+)@#>&>3V5VUXJWFG6\+TZI,*&R#"
M&,2G7??N[PDM#"U5FRO>D.J7L/P=H7]1`&!Q-D`'!3;P"J_P@S6@5;1]!2"V
MCO!@U0*WNGP`\&L[I.&G=MB[(*ZJB(%%8M[NM[_!#>L_;]?BSEXA"W68`'/5
M.N-?I52P-S[Q7/53/%S8]GB[+/C!"^=+Y#L"RW"Y3+(##ZOC,6!!!V1]\G;A
MZX?E&M&O5OZ5'E?ZVP9ZE0IAU>@>LBOF)W/X#GY3\((/FF8%K!FB;5Y@3/F0
MT;!B$0X8KK.B,_$#%X94P>&ULI^9R.;S2KBB3-[`!L3`!40O^M,*P8/?0NI8
M^P*K?1-0P!<H#6A+8S3%?,AG1H&P:2`0!]2XY@D(6)#<4KN``$\SHG>]BP4T
M&+#2EX3FIC?`!SF(80QBD'6`+TS.7%O;+%=(P!VV[3?O(@$+QVYULFD*!"`T
AH`%P",)=K\UN3_&:USI```SF3>]ZZ^#>]ZYVNWD2"``[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>y90591by9059105.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 y90591by9059105.gif
M1TE&.#EAO@#F`.8``#96.?Z2,TED2/=7`?W\^_Y](?Z;.\JYGYQ2&]3&L):D
MB_V")/VD2?WUZ?V)*_W/E_ID"A<5$?VN7/VJ5/VA0]?2P?VQ8X66?/UT&?MM
M$OZ>/[&5<_W9J59M4NCCU_VU:GF+<7.&;%QR6(R<@F=\8K"YI<Z/2\YS*OVX
M<OOZ]_Z,"/UY'29%*V)X7>/:R4\H#_ZU6.SIX+RFB/W$?_V.+T-?0V=B-/V%
M*/UQ%J:RF_WBN_WHS/ZF-6V!9_'NY=FF:)^JE/IH#O7T[\QI'\N".C`_+_SM
MUE!H3?Z<)O[SWRM-,/Z_;>!H'/KW\+F*7<#&MOE>!<>::N.W@#Q;/N)^+'^0
M=_Z6-_ZQ2.*)//Z[89%O-/6"*-K=T_VG3N!Q(C!1-?ZL3/#PZOZK/.:<5.]S
M';E=&^Z!*>BI9NN30\2`2OCX]?6)+]6;5NU>#7]`%<"B?MZN<[6=?O6?235+
M-#U1.>]K%\*ND?6K7/:H5^^E6?BF4?)X(K5W,?.1.N^Q:____R'Y!```````
M+`````"^`.8```?_@'^"@X2%AH>#1@\/1H(<.HB&!)&4?P\[A#L/E9R",Y^@
MG90<H#HIB)J%!).BK:ZM'$A@8$@/!&`SHF*8KW^UA`](O8<PM+)@PX0PQSQB
M#8?!A3R0R=7#8K9_1DA)N$D-K"G?@@WE22H<38/B29-)3>7A22F_@]&$!`WS
M@N_C@DWSVA%"`0.?/X`-Q(D#)T[=(!BY_J3($G&AH&`*_S1`Y]":QTXS8#0:
M!`:&BE\-Q)SD\&<)#QA75*C8]&<'#YE+?(E!@H2ED9C+:%X4!@R)"AC/5,1$
M@DF'2I6\!"TIR"_+2DM(>,2:L=+JE6>"(`[2P>-/$I,]L9J\TDVFT(]P_Q&E
MX+#DRI(D?\!\G2&FY8P&9),L$?-.A0Y6BS2I\'4WVI*[.^H-S<14<*Z9#:8V
MN?(@"0<545M2_3-C">`L28)]0_(W"X\=VUB&C5A318I/IU,;MMP$':NXP`DU
MP"3N`8PFN+#^`?V'`!(=4P4QKPI#I:]-.A;SH"E9N;V^ELHR?\`C"=/FTZ6.
MYH&$`H69T1H\)XW,E^P_8@7I0-*$O7OX1,6R'#7!%?@'66"=TTTNT<S7!%/1
M+1=5%JAE=]V!BW'67'?W.,+#*@]<(:$E%)@'R4:A1?C'%3`L<DDT#T(R0WUI
MS28(`9]LEH6+FB"1`@$A#FB@@03`P,-CV-S"H/\P'(@Q%0PI1*@":E(=J9)\
MV"W&P9%+S`2,"J#LT(0860S&TG@?SF!73"F.MN426<"0FC#RR4CC?49^8F0[
M;\:IVV-:^4+ED,$U0%<6IEC"D@ZY$,#!CL\LHE\6O#11F@Z7S`")$5E(!!VC
M!!X(PZ@P0)+$I9/(>6`NABZ1W4@7"44`=#,TPJA$M?[!`4U+1&7<J)W=2*NM
MFKHZ"5VA$:KLLG`U``,'.W#P%;/45FMMM3C>=$6HUW;K[;?@ABONN.26:^ZY
MZ*:K[KKLMNONN_#&*^^\]-9K[[WXYJOOOOSVZ^^_``<L\,`$%VSPP0@GK/#"
M##?L\,,01RSQQ!17;/'_Q1AGK/'&''?L\<<@ARSRR"27;/+)YN9CQ`X[Z+#K
M`Z#,\,`3---<005<<.%!#&&H\1O*UJ;0@!$NP_P)"D@GK;04)33M]--.V[RS
M$#\##1<!`!4]@])<=XTTTU"'74(..8Q=]A,Z"W&*U=4,M^O67L?--=AB.TWV
MW7B7C7,85;,=23Z:R"VXUW2'G??A=P-Q]Q,]^XT(`9K`/?CD21?>=-F((ZXX
M$)QS7D(%5#LNB!&D4&[ZTH9GCG?GK+<.!-IJ6-U$Y*<G_<'MN.>.^]=VJYZX
MZ\"SGL,3,?3]\7`/"*[[\LPW#[;O9`<O/><***`X\6M_/*OD7.MN>_/@YRX%
M__0Y3.]Z]>BG;SWQ'C?!:->[HQ#^_,[[;C[UZN>??PDQ9&^Q^]RCGP`%.+[#
MW0\(^DM@`HEG/(>E('!(&Z`$Z5?`WYE/@1C4W^OX)C%#1?`#\IN@")D'A]5-
M+X,H5,`(5LA"!>2`"PT\V*PB&,(1XLX".,RA#G?(PQ*63WHI5!\+ATC$(O(O
MA@-K0O)`:$,>.O&)/?QA\(*(OB):\8H*J(#_"@:Y&3!1@E`,HQAQ"`<@IO"*
M:$SC"$H0AH-Y$(QCC&,8RW@^%*KQCFA\(1+UI8@:AD^.@)QCZ^R(QT)B\0FQ
M"U@2_`B^0#KRB73$GP(-6<0+7&`$ELRD)C.)R4N60/\(_VH"!QBINT>:$I*2
M3"`E-\G*5KKR`@J`(;\:L,3FG3*'$LBE+G?)RU[JLHP8+.0KATE,2XZ@`HF\
M%P%.1<H/G-*7T(QF+^$PR3L6\YK$',$30'FO4S'/E-(,ISBIF3\\8C.354BG
M.M?)SBJT\@E;A!<!C$!*1XKSGN,L9QJOV<Y^^O.?%]CFO"#'2'OB\Z#1_$'Z
M]LG/?SKTH>F\`!OEM0,_`A*A&)6F0E7(T%="]*,@S4$;WU71W,DQHRB%YD:O
M.$R0NM2E.>#FNN99PSBFM)<3R*E.=\K3GD[@!VCTZ$O3"8*B&O6H2"WJ0S_)
M+B-XT9DVO:D$?$K5JN84J)7_=*5+05"%I'KUJT?M:COAJ2ZGWFZ,-[6J6JV*
M518*%:)@C:M<DZI.LIZK`5Y$*T;7RE>UMK63K'SH7`=+6*0&=(_6PBM4GXC2
MOCJVJEC5JD/G&H+*6O:RF,VL9>5Z`2V2:RZ+=>)>'TM:GT9VDY.5JV97R]K,
M@O4"'D"LLF856AX>M+1J[8)N=\O;W5ZUE?^,:VN'2US7'G4$'/P6Y&JK0WSB
M5J>]C:YTI?L#U/KSJ\7-KG8O:]28RC8X\YP!8YV+V^F:][Q=8(,FKXM=[?;@
MO?"-KWS?N]T0@`"1WE(B<RUPS]*B][_G5>\%V)M4XL[WP`A.,'$[^]VK<8"Y
M_74L_X`G'.`!M[.]JTVPAC>L8,V.(+;8HJ=MP_E8"DN7`2A.L8I7S(#T]K/`
MK.7P?$E`XQK36,;SS:P"DCG;)J!@Q-&4L(E93.0BJY@-%SYJC#E,@O?:^,E0
MMG$/;KQAS.)W66K@P`Y)S-<)&_G+8&8`DM4)X\PR.<IH3O.3.6S9*H"84`1M
MKC2[C-XPV_G+8^ZJDC6K837[^<]0[K!WAY2/!\@YR+FM\YT73>0Q(S7#!P9T
MC5M`Z4I;NM*2IO)\0>!9`X$6EXBVJJ(9363WF/K4J!:SGHW*YQG[^=*PCK6L
M6_#G^2H@N<#)QX]Q.&=1GY?4J`ZVL(7-AD=C-M)JGK6RE_]-:3_+-P0E^%&N
M4V!H_O::JN9E]+"WS6U3%[NH9G9UE)E-[G+3&LWQ!8$LXS)/9U[;I[^^<[?G
MO>UOASN^:#8WI47`[W[[F]_Z;G:4WPN$T'T$:P_@,K:G:V=Z.[S>(#BV?,?-
M;(#_^^(8!W@+-*[L@8>`"_$<1KNMC5-?1S?,#T_YL-D@<7Q#N>(9C[G,^[UL
M-(_`9QXA@!K$"TV3]Q;,*@\ZL2\[\9?/>N9(3SK-9[UF+O!X&`\D><E[RO`O
M"]T]&LBZUK?.]:YGG>65%3>-CZ[TLBN=Z38N>(,E04NI[W+A/[>ZRKU.][IO
MW01A=_FD8ZWT#OC][X`/O.`[</;_6->X!R"O1@KHZ<NJGMC(<[>[Y.E.`;SK
M?>^71OK@-\_YP<]<UC06Z=H'H7,.-![>CR^UPR?/>KN;X/(DX+O,.T_[V@/^
M\[#^^--%00`?S&#J/$T]BQ_>^N+3_?5.MK'L,6[[YCN?\!@W_*!=08`4Z`#X
M.SUYD>EM?`-X__O@#[_XP8]\Y<,ZX\]/O_-C?NDJ))[Z0OC]VU'/6\AWN_CC
MS[_^R?_D\S-?_0"X?A=G:22`2`U6?3OP`?-'=7$W?/<G>?L7@1)H`OUG:?^7
M?D?@?!D8@-%':2.@-JV@<PFG2W"W6]O';:PG@2JH?Q0X=IGW;^JW@9MW!#3(
M>3(H@/Y6_VF(AW.=D`)"0'(EJ%NJMVT0N()&F'\M^((PV'PR2(-.^(10&(5/
M"'@W2'L#V`+35PDZMP,+F'T-J&(H6'='.(9(&'L6N(2V)X5JN(9LN(%5N'D#
M6`7]TPD$(`0C.%4,:()#&&QV1X;[9P6`&(B"&(C>9P)*V&]IV`%MN(B,Z(2*
M:'O_U@+(A%@I$`/R1W]"Z(##)H9^"'Z#^(F@&(B&>(:(V'ENV(BHR(A^]X:!
M]V]9^#CNDTN8V`5[R(=>UXFAF(NZ.(HBL'&E:(.*"(4"0`=T4`,T6(RIZ(0U
M0(S,*`!JN(J=YV]NMGNJ8(=X&'SUIXFV>(M'J(O>N(O[YF^U)_^%=!`!YA@!
M<W`$$5`$C"@`14`'-.B.YVB.\+B&C\AY_48"DT@)*>![UPA=V;ABF\B-1OB-
M!IF+AHB&@\>&ZR@`\B@`ZU@#->",1R``4S"1%2F1Y5@$%.F0Y8B1&8F1`C"1
M#NF0QEB1`B!X_/9),:1S.O`!>9B)`BEL=->-!WF3GV@""AEX&6B/$5F14Z".
M16".Z3@%0XF.\CB/'%F2<Q`!3WB4'+F10UD$0SD'1YF2K7AKU'@CUHB-`9EB
M`\EU!8F39#F(.OF+/!F,;)B42TF/0UD#0TD'0VF4Z#@%$5F2PQ@!&-F4<U".
M?=F01#F5&_F&(.`!/&@(*1`&,Q"3M#C_D]NX=2I8EI(IB`%PEB)`>XMHDG0)
MD1S9E#6`E)PYE",)FDP9`0ZICDK9E"FYCD?PD1TPE(-7@`9G"&K@`RC@E3()
MEH^I=9$YF;X)B$3`;S.HEFSHF1ZIEPU9CG;)D9])E:;YF7.`EWE)DE-)E46@
MFD)Y!)\)C["IDB(5<ECC`1;@A7H(AKN9=1+XFY09`.S9GN[YGNUI!<$Y@^TX
MFNO8E*;9D*I9G1$@E\]YEZ59FLXY!TU)@ZSYD4<PE*QX`3W3-W5H>@!9GKJ)
M:@29?[\)GQB:H>\YGPO9AM+IGW>9G'H)ET3YD"2ZE,=)DFRYC*:9G=N9H.SX
MACT0`X>Y#F'P_P#DF9L,0)-B&8&3J:%`JJ'R29]K*)U&>J0EJ:+2J:1(BJ2+
MJ))<,)N#4)NWF5-?B6(\"IE_2)9!VJ5`2@0=6J1-.J9D.I)E.J9M>'N?M$4Z
M%P,P.0%?N*/GN:5<ZJ5V"I]@RI-B>J9XR:1-JJ)^RJ=L"'A`T#CX(`0>,%5Q
MFJ6\J7\W>:>0FJ%Y^G=[>J8D*9&8NHP7*9%3P(R;FJF8.I(U<)$E.05-.JA^
M)X<UF@\N8*42*J<4VJ,6>I"1"J0T<*NXBJON.:G$*8Q\>JF@"I%$*9%*":H3
M&9%T6003J9RG:H\=T`,>(*6)B:-?R*@:0*?>6*OLF:O<VJW>2@.36O^I8SJ1
MQHJI0PD`<[F<Q/BIYAJ136F7<]"<9<J&)!"EOU%],4"MKSJGL_J-VOJM`/NM
M>2JNXUJNF-J7)#H%\&JP^*FL;XF.[WJFSR@"%1`&V=.F,Z`'^QJK6CI^!AFI
M`1NR`KN696JPY9JL4X"?PWJP$0``R+J.UUF7@6JDS\@X%]L$,8`"5\JQC>JQ
MV>JE(ANT`$L$!+ND)FNR`,"77W"?<8FIZ[B<$YFRR?JT$AN%'5`"/L"#=2B>
M.@JKIB:KXN>O02JT9#NR4EBP1WNRF_JTQ4BL\4JBQ:J1Z#BWRBJ19"J%0$"C
MK%"'+B`!.KJ;_9J+0%NVA)NK1!N%9)JV)WO_KBX;L_':E&UKG4?YMISYKA%I
MMW<+A0H0`P;G@WV;FX#KLX+;I85;NKAZN$^(MHIKK'9ICD4``'1)E)W:GPH+
MM1+YKLD*`,$ZLQ3IA+#5N3[0JHTYH5C7L>'WLQIJNLI[JZ@;CW^ZNJQ[D2D[
M![6;LDI`!PJ;M-4[![HKD0#0MBG;O<:*IDX8`M$:#L$+NCSKJ*.;H<O;K0X0
MO_([O_3K`.":ND@*O9E:O?S;O_[KO_J+N4?ZA(@'@A)A!!4PO%AZ:F#KB:$X
MMN]+`_4[P12,NOD;P*/ZOQJ\P?R+P4Y*@_5JL8)0FPELG@S<LP[\P,FKO!3<
MPBULP48:P!P\PS1<_[OZ^\$BP`4BK',^D``*S+/7&K;M"Y^FZ\)&7,'.&\/0
M6\-,/,.K:Z8#G,,[C+,)``;$2P'&F\*@Z+Z%>\1>/,%$^[QIV\1D[,2*ZZ12
M?`I8T\.-"<2B^XDK3+9?/,?UBP5:@))&>[1EO,=F?+1(*L4^@S4QX,,+_+4H
M_'U#[)YE2\>,7+]KP`=X+*IZS,=3``"6?,F73,GL:K!&"LBKH`9&0,AN?+PJ
MC*%RW,BH/+]@FJ233,:8_,JP;,EE?,;2V0)<D+6K0,6TN+ZDO,6F++2I3,$W
M,,S$/,PM;`9:(,EJ6\.QW,S.+,M,G+;26:^XO,8^S,N]/(A<+++!7,S>_/_-
MX%S,#F`&D&RRS/S,Z.S,-2S-)8EX#2K("7S"Z"G$</S+(=O(X9S/^@S.?&`#
MRZS!Z1S0Z$S#?ER2'_?.38#`>B#/0:S%ZTG$W$S'^SS1%.T`6.#/^[O!`KW1
M`\W!!2T`ZK;#:A`#\6S(#>W0@+C-`"O1%-W2%(W,G*K1'#W3S^S1G.R0[B?2
M/E`!>&#2)^U]I:S(]_S%+EW4%+T%?)#!_TO33*W.&VRR#CD".KPVM>D"=V#2
M]*S-$!VP1%W4"_#58!W68CW6^DP%_NR_39W6S?S4Y>J00##5@M"/+N`'Q3O/
M*&T%]ORM7NS28]W7?OW7"_#-5*`%2IV],_T%B)W_V(JMV$S-UN-;`G`M$<%+
MUUALUXA<S^\YU"Y,T8#=V9Y-UL.,U!99R1N]V*9]VHO-T1I<KD<`V2(L$6'@
M`E)0V98-U)C=GIK=PA/]V;S=VX%]`UM@U@*-VL1=W(@MT/];KAWP!-&Z-IY[
M`+2=U8&8U_"[V?KLV]B-W<C\S,;=W<8=T,D-JB+`W)V+J`D0W=F<TIF]TD9\
MW=G]WKU-SC40R]Y=W\6=SN&-J9+(N7MKWGIPR+XLU'IMW>`,WP;NV_V,R?:]
MX,3=T?T+JB%0`7I[(TW@`160![5M`+>]K>PMS.$,WP40XB(^XB1>XN\MW`R>
MX@WNU`]NM\<TX<TQTA5P_P:U?0(1H-4"7MWR^P+S&`%>\,V^7>)"/N1$'N*]
MO05:```JON2IS>+5&ZJNK;4C+=L_;05\<./3O=X#'K]K4`9EP.->;@;>W-M%
M7N9F+N*\3<Y3P.1L_@4UW>)'@#:OW1QR#=W'>^4!,-UF@``(<`*WB@!EP.=F
M0`-=[@9#X`8G,+]N\`+$O`!#P.=>L`!>X`9E<.A>`.E,0.EGONF<[MEF7=]*
M$.JB/NI*L.1KW>(M@#;2Z@,>D`!R<+Q#@.5XO0:+_@(OX.<18.L1@``.@`"V
M#N:*SN@WX.B_[@9[4`810.G)7NP\/@2<_NQG#MB#K>2F3>K6?NVBON"G_N0U
M</]?YWNHK9X'#HSG>!T`L4X%:^#K-+#KZ7[K+S`$#A#KO.X`P[SHQ/P"AO[E
M7AX!9%``N[X";A`!3+`'NP[M!E_F?XW4=)#8V-[P#E_?VUZ[`O#B4@K/<.#`
ML9[25H``$1``-!#KZUX&Z1X!L1Z_-Q`!94#O-^``]C[L/:[L"^#O95``'!_B
M!7_F*Y#S.K_S*W#P:.[7-W`"-N#P1/_PW1W+_=L!;TVCJB#C4O#JMHWG[7D"
MMT[K+[#N"$`#'&\&+U`&-X#L"%#,]O[5;F#HA[[O-C_S->_O"-#S),[S<!_W
M<6_P?HW,7U#T>$_JWHWTU5N`D4T(=2[N&@Z(L?[K"&#_];:.ZV6@]1'@`%^N
MZUY/S(O^U04P!+_^`F2`[&E/\Q%@\P@0XG(?^J(O]YONUTA.!WF?^MF^XJ_,
MO_<5I?'D@ZU^!K9M!5C`YWS.!P'0Y0A`!7_NYR<@\E3PZ+$>^<,\!&6P!6#-
M!'Q.!I+^^33O!94/_0C`!*-__=BO\Z7?UTFM^JG_W;!LPPI`/%+*E18N!;6?
MTGV`VQ[/K?+K!;E>ZWO0Z']MYME___<?[7UM!D,/"$J"@X2%AH>#7XJ+C`".
MCU.1'3D5,6H$?YF:!&HQ%0=R5J*C`:6E-*BI-`ZLK%YN+PA>-[0+MK>W!;J[
MO+HKO\#!PL/$Q<;"O;VXN%M\_W2(T-&$C-1?CY!3/4]<82F:WW\I/BX)9Z.D
MIJJIK>P.M._+N<F]Q_4K&/CY^/;V\[OQMOC8D$804;5%UQQ%&K%-B#=PF0@(
M\9``SCDKIDZI6E/&31DSK6Z4H?+NQH(]'<OH\H)`98$598:L\,7OE[Z;.'/N
MJSG3GRZ`"\P,+$@TT4%K"6M0BB$$$\0_!)IX.F#@7$9U-!!$>!'!32LO$8;4
M6K#%S=8(9<C$>J%RR(LZ+WGJG$MW9TV?0+=HF<.BK]^_+(I..Y@00(L27"PY
MA<AI7((QZ-*I,A/!BX,R+VXX\,*US%@F+X8LP,PD[`LW!=RXJ5FWM>N[_H`N
M.$$'L/]MOX*/7IMR85NWIYI2A*%H4=15=2?"ND$`LJQ6L;<0L&5;0*WT(=+)
MV'/-_76_V$"IV+A-GJCN1P(H>6@*/**0J:$P2E8UI"LLKPC<[$&+RZSJ6`4P
MT5(=L2"```;%=*<@=]\E`]0-9FBA!'FWF5?-(ST@IEA[4*GAV`_RS9=*&1%0
M<9EI+44@RRVPD%&`=+NL()UTJ@FC(`XXYJCCCCHJ>`QXR]!BAC,45B@-80#4
MP!`W#W$H'$5V&'"<.E1$L,6)6D6@I8JW8#:3E[JHA9E'$03C&H]HILDC@\4`
MB<L[)]10I&T$70B`".JQQR%44GTRQI3K./#"::?=L,5)_"W_T-(*@P[JT@JJ
M80"+E_?4I>:EF.98UX_SQ%.27G,"=B0UCE2!F`^7[`F5<.18)"(JK)@QHQGP
MO."%+<L%.*EV*Y#A!A,KU*%:'71E:NRQ.-#%J3*>OD-DJ'V-RD@'0#SAP6^J
M0C61GQJITHX[\,0SCS'%(FMNIG,9TVF0[VQQPGC01@L--2"44$FJV3;FP@$_
M=!LH.R6).^XPY1J;P<$()ZSPP<@J.\RZ[-+B@'CQ!C;O(C54RV2VP4V4P`%]
M!(!5.P$+S$N".F6Z\,HL+XQN3FTZ&+'$#NP5[\6*U%O!>HOEVR>_(7M+<KBX
M)(,R3IBVK/32"5\*<\R\-$NS`\^&_WKQ%!IOR'$FK"9@!QKJ?%MRT?00D].E
M3*?--*9/(R/S+26Q0['5!GV1H;4.;;W)>Y^\$3;`1,MS,L%(IZGVX6D[C1,Q
M;\/]#CMK2`CM(5_4H,`V6NL=C@]0@@WKT&,)'B/A-ZF)^.EKI]EV,(TO$'<[
M55-(>0@E6(NMYMI.]4,?GP-NTC)&VU@XCZ@7G_J:BS\<=<3?TD`$O$4:(@`0
M&N*+.P%=VS%&[ZP$;DOP9@ZOH_$*!Q$$^0JCN?HOK;_.#@V1SUG(%*;NG#?N
MF_S\!MB@`U^V\/E`$^K,1\`"&O"`YT.<^F[".&8Y3C/O0\4:8B<J0K0@:];#
M7SB&\[$HK/_!=[_[WO^`(;X<'0Z!*$SA`=6V0'TH[Q]OFEHK5/$\V0E"2?9:
M3Y,TR*<8[$M[OO/?X,*G#^(M385(3"(!$[>C]3GP@>U0!Q:@1R<E]"`'OLD@
M#U.PK0/(X(/="YT(1T?$`.Z(:4I,8Q*/IRD&N@V&4(Q@*DK!![[0Z0@*L!=3
M>L;##CG&#E$(HQ@7,,)*%7%\1U2C(I&X-.2YD'7+>R`$6:$.4Q"A-H`!P`BP
MN+$^@D,B'OB$#-``+C$6TI#X.&,B%\E*%+(Q68^$Y$]B*,-*EL(*4_R+$DB`
M03YZDA/#Z5L?O%?(TB&R9:V$@#*7R4P(M+*1/8HE^R)IB\?-4!7_IA!%'R3'
M@@[D<6>W\^0WHN)#KWG0E$.TR2&/N3!%-O.=\&2F&EOF2+M,$XZNDZ$#L)E-
M*_3ADC6H`B?#H$5Q<HUO7F0#.LFHSE2JLIUIC*=$)YI&>D8S'V^<937UR<];
MBL(`)JA"M2JA)X-^\DFBQ$(("<E05&+@H1!5X41G2M,ULJR)TGRB^_8Y1X]^
M-`K4L]\.33I.#Y'##F_`@NCBTE"'FG!E2*2I5*?*R)7AU)X]P:<U*=G3`(S"
M`%'(P0$JP(V"$M4]Y03D&L;(U*;"-&%1G:I<:YK"F[81H[(L`"WE2(-^6H$-
M,C@`YLQZ5JX%\P!V8,.ATHE*=L(UA7.-_^Q,JYJ^BR(HKWN])BKZ.8;`/L$%
M3!EJ88O*.5&:8`LM72>.H(I"R;IVLG5UF64Q&T>N;O:6:'B#'1(`6H?X<K3Y
M^Z,,3,!2`+[U8)!]K7(E&MO*XDB:6=7K1B?)T]L&``U1L,-8KT58X')-*D<=
M+DU(Z-35QM2`RX6">M>[WN6Z4K9WS6AMJ]M7KT8AL#M#U6^]^PTN>L)K<3!!
M6U7+6O1&EKT(3G""(_M>Y\+2GM2LY1S[<-\#\%:__%45%T,)8`$W]:7F?>P!
MY:K@$IN8O7-%('P??-E[:E3"J*!P8"_<A/UF>)PH!3`6]M#8IXJX@"0^L9!-
M3%45.SB6#H2QC/]WVUL;WYBTH41L@`WIV`RT=J9#SK*0I6IDY^84CA)>,F]#
M^V2.-2;*=@CP'LI[7O/15,MP'C)L#0C?+[^8NC00<V]%6^;V`!/-:@8Q#MKL
MYHG&^=`GIFL!CXS7Z#J.'=B=\9Z=W.=/>@C03MB#CY$[8D,C^M,*GO,2O=SH
MK#Z:%9%F\GJZ6^FGG/D32-T`%4+,:2!+%-2X+C%%Z=RT^`(#S!#$0APD'5I*
MMYHQ32BMUV2P`2RTV=.YCC:*X[E"4K?8U!M=@PF&;>%)'_MZ:A@..;P8!R*0
M`6&=AJ>TUSUM>%8;8;Z^)]RP$`5NC]FWW\8?]L3],1D$^-Q6MK6Z<SW_@((;
MO.#29NZB>\WB7VL4"QN(@W;OG0)CYQLXV'N/"V`=!UD'G(#Q1/3!1T[RD7^:
MVKR&=\/EO85MRV"W^:WQQ?N8<1_"FMEIJ`/(!Q[GDOO<YXA&^:A5_F"'%P#B
M]HZYQ6>^IQ0DF\/D=@(5@A!R./_\ZE>/L[M3GH%X%\`,)HCXQ$%+T*4S?4]_
M'G>:-Y!SG@L9ZW#/>I:%;CZ&X_7H$7]Y`BK@[;,;%)@V1ZR_I5X'9F8Y[HB7
M^Y:W7G>B8Q3L>;=P?O'M=Y/6'.K^9KL7E'GXQ'N^Y')F?`)5CH\]8,$)PQZ[
M!WQ08[-7WLSA+J?@.YX&+PSY\[@G^=R;R74<_^V!"!&7N.0]4.S7`Y<30E#V
M[-G.A!+G_ODF7SSOAXX#,A#!"7G7+M^OU82*&]^[V(O]QC]FA\S7O@WKA;[Z
MHT_DZ3?>^MA/?;=7+P16?__O:DB^!]2>><VC?_T`B'#M)T\$!'_9)WEDIP;>
M=W\W1@#(QSD;=P#+MP%$T'P!N'X#N$Q!4`=4@'T'N'=DUWVNQX"_E`*QMW\?
M,X%.8($7F'N)MDQU<'T;\(%\%P,^0'DDV&KA]Q[[5P'DYV\=YP1I<`)MT(*?
M1V0QZ('#]G((2'^7,((Y2%38TP1A$`,]2'[E%P=!.(1,8(2(AV!UX`4R&'Q,
MV(0W^(11>'93J'_C)_^!Y0>$&R"$)\`$3%"$7EAR;=`&3.`%::"$2SAQ?`=:
M9[B`:>AW.PB!;3A['3>#;)<&0]"%=ZB')]"'C*B%,E"&($A\85!_#EB(]^>`
M:D"%B.B#;IB%6LB(<3B$<TB'=GAU>4B'>SB)'EB)?SAQF6B#]5=Q4.B)?>:`
M)B@$5;A_XY>"=O"&6KB(C.@$RKB,S-B,RHB*P;>$+Z==%I:)J[>)*4"(O)B&
MOIA_P=B#/IB"B/6&EWB,QQAQZ&B.ZGB)TTB-"?".@4A\/A`&3:"`G;B-^.B`
M.Q@&/F"%PAB.XCB.Q4B.[,B.`SF0$EB->Q>/\B@$]:B+^!B1C($]OPB,_>AM
M`<*X<14`D._8D1[YD1L9B"Z`D3%@@YOXD/HHD2KI9]W8!$)@D27ICQCI`C19
MDS8YDAA)DC8XCR^I@+JXBRN9C[YH@J'XDB_)CV&0E$J)E)OXDDWPD#\)E$$Y
5E5"ACT.9C5B9E5EIE?=(E1P2"``[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>y90591by9059106.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 y90591by9059106.gif
M1TE&.#EA;`+D`.8``"=.,?S\^X2"@9]%`_SVZ92,A.3+JF5(+\'`OVV+<[&B
MD:2;D=>RA1`Y&TIK4H^IE'MU=?[2F&U3054Y(__$?N#?WN_N[<.[K[NWLNC2
MOL["L[+$M9:$<:51#$XN$O^F/?/S\?_AO/[IRK-K+*6BH0L6#8UZ:)>5E<?5
MR-'0S_^'`/ZT5?+GU=C3S/WY\7IA2=GDVN?AUSTS-9J3BX9O6.3BX#L:!;9T
M0$9#0VL\%6AD8[6QK-"D>]3,PO[QW,2.5O3NY,;%P86<BJ>[JNSJYZ.0?./K
MX_Z6%[RMF_#Q[E]95S9>0$=52=_<URHG#OZ^:LJ::/Z>*/3X],/,Q<_,R<W'
MPJZHHE%*2=W9TG!J9+Z!17F4?]'=TO?V]%AY7ZJEH-C5TQ=!(QHF&W5Q;F1_
M:B<Z*)JSG\S9SNCFXY9F-S`L*85`"^W=R+W/OX54(;"MJ%=13]V_F#8Q+ZQ?
M'-_GW_Z."T(B"U!A4,;/R).AE-;?UZ&NH>?NYT,\._GY^/___R'Y!```````
M+`````!L`N0```?_@'^"@X2%AH>(B8J+C(V.CY"1DI..*E$?'W4K!((^(BY_
M+E$J$2$J*CZ#%)8?HZE_!"(B`8(B/IX!+K:TMKBZ/K2P(;.#!"&F'W_#/J?'
MG,*OK)D?MR&Q/L."NI_:LJ"J=9A'*B)_*A_&SP'8W,?;WP$BL2&@Z_*"\</!
M?Q0K?T<A^OUY\F10G0B4$BI<R+"APX<0(TJ<2+&B18HJ0H3*5"["$4W83HE4
M04$0@4NI"$1()6*4)E"M/CY94><(PIAU9M9$&&'4$0J<?&0:E>S<*I$E^0$4
ME/%/@$P!S]59E<P'S3I17!"@><2?R141`@0(L2*5BB,?+!$(X%&%)@*G_S*]
M_!,AW#B-'L-]HNEV!:T`3S0"%/A!HZ`5'[Y=7,RXL>/'D"-+GNRXYA,*KYA1
M:.DOK<93@T1,+72RK`B2?S[X31O!Q=G4JTFY/@+;A2F$3\A%.&>NJ(H_B`5%
M6?%-Q0H*3\+Y6%42&?`HGYZ(6&6LZ1\11_8-LB1B=P25!*P>/!6]CJPHF$<-
M(T7@P^:<QH#^L<HIPDP?]A4_@4ZYO___``8HX(#_A?!$*U'0LUL(3]'FF3F_
M"6)*4J%-)98EJ97T(&CNI=84AR4%8-P_*HS%VXF_[78+*=N=@A4]JVCD7#BT
MK#5.*R,J4X=V3'U@(@7QS#3*4;3$N)N&&>UVR?]4/D2!UDJU[!B*+.V%X(D@
M%!Q$X)9<=NGEEV!.AIEM3G;75"8>?A;A?$<\40\PHB7U6H<;_D;GAW;*Z0]H
MSJ%X710$'5$.4\=MAF53?2;3(@6,(C1?%)DQV)LR)`F5('.@\9,1<VFN4BB#
M(NQW#B>F%!(".O=I2F&8K+;JZJNP?EG'2)NX@!8%/Z5)HF(AS'K*$2X$L$(4
M$62IT9UJ9J@K:,,:6`=>4ZUP8C+CS+(;B]L9I@JBO.%*00@`U57LLX-<ZR(G
MO$TH%$!I'76H-:JU94U7(:#G`[TK')&*4,_``BD%[B7SA*"Q%FSPP0@GW)`(
MTK;Y2JC$PH3H4H.0=<[_H"X,G"`MR$*H;)WSY?8!,2[L)FU1R8!+C6LJ*&:.
MMN]2FDS)3H;%5LW[J'1$FX.F2])841"+7J8Q7O=!!`\RK,(3J9P:CF$9#QH`
MH\JL\`1"P[ZB\-9<=^WUUP4S4U"K`=&#TB/(:=-:+8[F"O;;<,<M]]P4'<A?
MJR*TTDI8C]3K<B$M#4KWX(07;CC=`6G=*GZ;\;B("Q3\38@(DAYN^>689Z[Y
MYIQW[OGG"3N:VMB"B%Y(!(,>2/H@F#B:M^M'#W*@X(:0CO2@MY<^LB&F@^[[
M[\`'S]!RRB1%UB%(:X097=H2SP\V"%D90O0(+0\S(:>6CI?TS`>46O$5KRK\
M__CDEQ^\#Z"X`,KTI:_>2=G724BA"Z]\NRJ%&F*IS#''2*@H_M[CA_>2`:5:
MB,]\"$R@`@OW+4*40A6(:&"YKH<EY^E/?\LK":,VR+H+"C`IF-E@V6[AP06:
M\(0HW)H$(:B_O'V`="LT%"9VYP*OW(^%!_('__HGB/^I(H`4ZD[9#'/`%!KQ
MB$C<4@-EX<$B"E`03#L$<4J(OX'H;X?:\B&6@-C!(98PB6`,HQ@?8Z7YB)"%
MAFC@"CXU"*%L,!5OY`>CFG8<Q15"4<NA6O$HU+\\[LN)8PRD(`?9D&RT$1'H
MV]\QM&8;_J6OC*&`9",E%YHVTN-]BE%?)P850$)Z\O^3H%P$!;WVP%":\I2H
M3*4J5\G*5KKRE;",I2QG2<M:VO*6N,RE+G?)RU[Z\I?`#*8PATG,8AKSF,A,
MIC*7R<QF.O,_.\`!#@0!!VE.TP("T($%_A!-;7*3!,\,IS@/1H(=_($$*?B#
M``AQ@@I80`?J_`,"$!#/<=KSGJZ:9S8%`,YZ3G.=^J0G/@=*T"UIDP0D0,`.
MS+G./TSS!`A`IP!V((!T*B()!<VH1BG2ST'\4Q#3K(``!%`!!*QSFHK`P$97
MRM*$[*"?Y?S#.__0SID*`IWQ1&DB.MK2GOH4$200@S33V<UM8M.;(!5$-"VZ
MTY\Z]:F,X2E4I^I,,/BA/U+_I:I6DRF`*F!UJV!5I@"4\-6PFK68`M"I9+)Z
MUK;R4@`G**M;Y\K+-Z!!KG3-ZRVOBE>]^E66:>WK7P?;RL!2AJV$3>PI3X`%
MP2KVL:`4P!@<"]G*"G*LE+6L9L%X`C!D=K.@32$(_(/8T)I6F*4]K6K--]K/
MKO:UP;."0">36MC:%G2&I>UM=ZNP)%B!"A,9J6MY2]PN!0`!!2C`-B-B!2(,
MM[C0%1`:9I#<(#AN(:U=A`408-'M,K4"W>6N("Q0`4;4-KKH_4\5DEL`$C@W
M,B0P;'Q)^@>1TG>^Y4VH>=/+WRV!X`L%H&X!:@#?=`8TJ0W]Z#PK$-?]]O?!
M_[$`_X`+T`(`EW<R!W:H/^.9X46<%\*5)4(5^$H@,"P@N5\X;@&`"Y'<+N*?
M`OVHAO'+3WYZ&,2P/;%U!Y0$#"1W!D'HPA_04`!S0H0$D]4N3@40XPUO%P'M
M/.F-<:Q:(A?@"^\-T`4*L``K8(&O`9@!"=!`8H9$U+P"/;-(SXF`-0N"OE)6
MQ(>I/-@`!(&]3/U/%P#<V$+XF`07J$(3+%#F2;CX$"2P9CI3@(,DG]/1?T@R
MHQU,Y\TB0,#)-3*`J#`#*QRB!9AF[PZ6.XDOY!F^E=:L'[;,WA.3`*.4"4`%
ML!``$LR@!8?P`Q@P<&+V<GFT7:!"EALA@`(\-]5MU?6)9_^P@R"DH`(!/C5D
ML$!=$A2YT(;P`Q'`@-P"8*`*RX8$9@^+;,42`0/4G0$8A.R4$VOZ(2"H0A!:
M4`$TL-L0('B#KSWKB%4'.-U!$/><.5INPOK!"LE=`(L'X>,98'LAZV7O#*IP
MW2I0M]<$?D02>GWKZR:BS^0NN%\#X.,B.ZX"[FX""#P>B0"<>`$"5G<A_!!Q
M$JQZQ)$`0X#Y_:J!BQRJ%G#WPP.@[X2_H0D,:<*5DT"$&E2;$/_],<@E070$
ML#P19P[YS^E*A0!?^!#;M39[23V)@Q?`TX+@=`'>L&XJ]'H'=UTKI%&]];8&
MH.DGQD!V<VV!&EQ`Z`FA]L0'`0+_#%A[!E^80:<1L/?#^;SN+$7#A)7[""PD
MMP6RCOLCND#=-S0^"55`N!52<'5)^`$)2'?5XR&_T6XO`->;;W@0%/]P1`2@
MZP7X>D7\H``[V(`#+["!!WK.>K,B_`OWKOR/DYOZ1EC`VB0HO>E-(('J6]\&
MV,_^"\2M5KH7?ZO5+7NH5>H(R^?^(:?'0A%\G_WL'\`$'K`!#8``"20?^_OB
MK`(&ABT($'`YXY)0<LE%`LFG",BU`(V7$'Y0!-CG`79P`-97?33@7!S``;&R
M>OC'3,E%?H.`!2=F!;7'"-#&90'&?[:G;RGF$"TP`=DG`05("-)G"(<&&1B8
M@<KT8ZU5_P,[D%Q6`(!4UP)8H'0%X%6,@`8G1H0-P0'MIP`140!S1X,VN%%)
MP%Y>Y78#:`$QN`@@L(,ST`AJIWF3<`$O8'WQ=P`*(`&P]Q`GX(/>%X4#Y6\#
MF`0"=@%DMQ`C^(*%X')<EH6'$``2T'[8AP04(0`0<']N>$P@4`,`]@671H(+
MT'P/L647@(>"T`5;)G.4D`0<X`$3$($F4!&$:(B'2$R*F'!^$`!"6``!UPBK
M5@24.',(MXK9-F'2Q@A(P`$:T`3!=P!39Q$8`&NZ-8KB1&W)A0#WU@0+L``F
MB`@:X'M,Z'S_YQ18T%H6@'!#&(*'``)*"(@7X!C8&%7"&$Y[QO]E.#<(=T<$
M,1@`)H!]$P",BT!=YF1Q;U`#`9`"R74!WU@(1$`#ON>`PD<#;&@16;<(LS5?
M#95U(M5/)45IX<A,YK=PE(`%!Y!]"_"*7:`!!5`$)I!<"M!JX.9M^4@(,4`#
MV&>&"U`$&A"2#S&#AF!3]:14Z`1.`$5/#35E#;E,?O"!=2@)ZV@#+&@#KG@(
M,?"'#;B1`L`!ON9MB8"*"Y`#-'`!&!4`P6<#!T!_DP%>C'`"\'1.[Y9@'!91
M[]94-PE,LD9ZAD`$18=YD>`')G`!,5`$$N![$]`#+&@'SU@(V^A^OB8!*%9[
M(QE_+=@#&A!_+[",E.`"/)`!P?5F.C#_4N7EE3/)9#4IEF/I2TY'8>:H<M8(
M@HG0`DC`?WXPE>WG`8(8`V4H"#V`!!KP!UU0AE:9;\FUCA-0!+H7`"U0!`5`
M`X!I`Q+PDS9@!W9``PSA`C_0`0.@!2,P`!VPF/5E5/#DE28%420`44]8"#58
MF:MT9USF!UW0!#NP`&]P<3UPBB`0`UC``32@`--X`!Y@AC$P""VPF^V)B^RF
MA'90!#0P`9S8`PKPFPN0F;$IEY[(`;[IDT\9`SU0!#\I`>\)"2[`!AD0!W'`
M`U"@!0.P!FLP`!H*!7SX").)8$DE"&L69Y2)G;AD`6!`!),7!.CF:P1Z`!5(
M`[V9?1.0E[R)_P6JR8!V8`)%<`'\IP$%6I(L>``-B@\[V`(<P'Z`F'UV\`*K
M20@:$'P<V`@!P`90,`<:FJ4#D`,R(`,Y,`!IT(N+P)(R>%/SE`*310+@Y6@X
M19TV::(`4@%9<`(=VBK:EH6)&'$_)G9<9@4(QP$3R7YVP(G5-Y'L*`&&VGX3
MF`@<8'TFH)L-^)^)H`$1&('=F!`$`*$9L*D,T`$8^JF?RJ4R``==*@-D]0A8
M*8*#X%V#D*J"$%X,":?]`0("T*4!"1E=H`"":`A(\`(T4*2LB&ZSI0@UP'%6
M,`,(0`0@0`(+D`*M50!_.`$:4`55T`,Q@(Y_``(D:0."F`07X).`J?\%!N`(
M`=",$U".CD&<QGFA.9`#:U"J\%JJ,U`#2F"J8OHEURFK$($%5]"EPPH9`2"1
MV%<$A7`!['<`KPB+/*@(*1!J;V"8@U"7/9`((*``-\``!L`&0'"*;."N6JJA
M(Q`'!$($63`!GSH!\7H%!7`"+-NR5C!:&+`#=?H?^:JO#H$`I5JS9=<$2)"?
M-(H$U%H%%Q"H#F@"&@"Q@D`$.SB`:)"`V3IY)$`%(!`'-\`#;(`&35!F2?";
M:4!)+,`#-W`#<]`!<S`'(Z`%/&"AROFQ`S`'!C"S5&<!6(`&`0`"6'MO++"I
M'%"J*-NE5]"O5X``*JEZ-NL?,U"J!9"P$1'_`#T`J.UW`$&:?1S`@+])`_<J
M"+Z57#1``URV`^XH"&!`71<0!-O$`NN:!B]@AONP`,+7`3R021D`MFS+MG/`
M``S``[A;G&VKF!71!2U``A``!W.:37"``0$`!`R0G`/0MZ7:!TP6!"<@BUZC
MLX6K@#I0JED`AA;A!S;J`4[J!S&0J)*+40L@J$4@;-J!C,GU`G8P`>PEO8)P
M@(,`!!:Z!DL*B!EZG`:0O!\[`C?P`P9@`#SP`UC:`5#P#'Y0`RF0!1*0OP-P
M`VP@$6@``?%:P7PKJE;P!3I``D[[-=1;O9.0`J2*`S)P!3S7;Q<0@;_*"#&0
ME^ZY#Z`7M-2:B`N`_P`XH*1VH`0S@`188`)(T&LFT(](V5ZD%@`65P`(T,-8
MP``:NIOWZP&SFZ6NVR_SFP%L0`M=L``ZT*]=V@<.#`6"@+SCRA`%4*HZ7*]]
M,`',6\&WZ@A2L`530'P@'!D+T*5OT,45E84&"X@NF(<Q@`23R+Z_R0$Q<'5^
M0`484`-9T+P2T)Z<&YL34&P$RHX:L`,'\&-!D,E+>P%H`)B#N@8/.+DCL`;M
M6LH:.@=7JIPW``5QP%<T=P([H):$T`77:\9](`-]<`/).0=_8+H:&L&30+\C
MH`&W_*6J_`-9N@8PN@!IU:59H'%XL`<%D`=<@`),4`(-(,=S_!B+#`=$(/\`
M7`P'$(!T),=D"(J?1?">1!!\'E!]+#@!19J@J>L![=R`+Q`$5)#/^0P&*P<&
M5'!I67`%.*`$M]RE0%8`0VP"Q;:1)F"H=L`!?H`&+["125ED28`$@.A[$H`!
M%<`&2``%4/`#6K"NKPNA;,`"P1``-5``_=H'PEL`*8!1?G"X?:`#,Y#(B3:J
M+Y"A_*NA/R`6+,`"AA``FUK41<T"<:"A!R`#$S"V'XO*&<L)>X8#??"O>1C-
M"7`'3%`&8E`"8@``9>#59*#-VSP1.-H#K=4%M[Q.*L;%$(`&.&L'<A"7+5@`
M@BR<?X#1=D"$\7F_$X`$%!RO.-"L7%S!`ZT#O);_<%:@!)><7%G@`6H@!WW@
M<'_@!QH0:KGY`D4PE<"9?7)@J@4`!SIP`NF4U",`S(80!+4<KY,-`F!`PMD[
M"%U@!7R;OV7;MBQ@`&?+(W&PKA^KRZ3<I2\0H0.,I2,PQK.,`%_0P8(P!&'=
MU27@U=$MW5[PN6#RP65=".K'I-6WR%<@O410`"0L!VH`B)V8J.V+!?E<`+XG
MG.ML!Q*H`#(J`:,[JCIPW_>-RU=0T_>=!5^@E3J`?`C794%`8B=F`@K0`A"0
M!7W0!S"]30&0PKZGI-AG!SDPT=6G`P1=PN%L!;5;`=@F`+>L!&.`!IQVWR2L
M!/6J!"><!%,``9'-U'-P_P,$8`#&B<P:R@"9NJF]_<!A^^,W<*%^JP.7.@D!
MP`=Z@`=!@``)(`9BT`!E``!,L`5F\`!+T``XD``7F-T1$;[8]P(YT'YJT(E.
M*@AHH*!*NM%=RN(Q7`!]<`7UVJ7LEZN\66BJ3=5Y%@!<O)6'H',S`(F@>P5N
M0+8`7,9K_EZ,"Y@*RHY:8)7]!P8I@`85L`-QKN(JRR.X/`,OB`"DVJ6`G@?0
M+09="LP!``4?VP$CX-O'F6T,X`8R@`-4P`=Y(`1M8-V$D`=:S02ZONM@#=U>
MW0````!+L`0.<.4-T`!#4##8#5TQ,`-%H``7@`6*:Q';B`14T.GW2P,'0.'R
MM_]-34"J5Z!2?M#I73H&))`%V*?MO)D"\:4$B%W0.L`CARL#8>D'._`%19<&
MJVP`5,S$6MH!2[WF:?B61=`$5B#7:\"[B@`&B]S%64#"\#H&E)@$T`N_*,#5
M75T&GPT!`@`'+HV[$OK4J^SHA4#!."``83W=T2T&3.`%)\`%>$`&*:_R-/_K
M#1`&QY[S.7_E#B`%6XY_74"4@TKF2`!Z/`JLCA`#U-H"V`J#6##?U<>C9?@&
MI-H')["M#UB@[2D!Z9EE)'#+@4L"N*P$$!`$Z-@"%<Z.'E^J)'SRZ10`W,ET
M5<#QK@P"Y^9K:9"E9OOC6H"E<_`#J:ZAP2T#62"U@M#_`L(;V'-`28;0!!QN
MP3@PI8B`![FNZUR=\V10T/#:3T``!3>@!0Q@Q4```F?`!RUYO6JP\A@OW2L/
MUBN/`[O.!`#0`&(0!K:O\PY@!D*0`&3@``[@!2@@[%SP\]_WK4\,J39@`B2O
M")97!-ONDYI]`8[>`N+;?O=)PI-M`4V@GT5@`1?@@._GHXAP`FU/PCI`MX1`
ME+_)]G$N`V,`!IF,`#%K!<G8;)DLM-^Y?!R@G%@*"`."@X(\?RQQ<X,Y,C)7
M`E\M$(V-$PQ_F)F:FR1!&#(X`B>C)SL@FZA&`"6LK&(-L`U>.(UR:HU*IZA_
M?GDX8Z2D!;1B)65;4WM"6P)D_TS%K@!Y=)I"`+'8#1N[?PX`V]SAXN/DY9@D
MYNGJZ^SM[N_P\?+S[WXM+6BZ?P4V=D!82$R\\&"CH)V"!ZH0R92D1Y6'$"^\
M*$BQHH<J?[`<Z'=`@D>"!RZ0:!0D'@9:H$INJC'!A@<<<"`@J%!CQI4L!7+J
MW,ES)X8X'00Q"$"`@98;2!6-8)&)Q8T!BAA1FMIH#A!Z7,A("\*U*]<[)<2(
M+?:J09@&2Y:$9<)GDHPI".!0G4M71H)Q9[(X.(/JS!)880`L\=+&C[@$#;8L
M>4"O\3ATCB-+GDRYLN7*+5[0P++`@X<)'3VV+++I`L$)&C;VFU"$")`#!RO*
M]K!`@_^)E@B)3+3!P?"?`"T4-I&K)$`\/PCZ*,$0!(NF`&`*T##1L_J"+SLN
M4$$P8^>"'56:L!@A2(N+708Z&#">"4B&#$'3"$#9:,V:`3S8FSM#!@\F*5SL
ML8479;1BX(%E91.&$&8-@0`7AGTB@Q)]U&5A(U<DX0X?URR!QQE&)*%?.`R>
M%<9ED4&&XHHLMNCBB^L`$1M!LE$T`1JH]*"`<404@5L_--9HPP0MH(+&!1+8
MH!H-NW11@`Q]8+2.!1=T5UU.&&#P!@E67IG3#!<T,2(Y4`@U9CD!:#'`4@'4
M@,$!]W5@B#I#%'B@@6(`(%98?)*5#6!FG'$68YG4H`,E<HC_H8:BBC(A`!5=
M#%'`%I,6(,04OK$SQ#5>4$/G-0W<!>,[*HYJZJFHIEJ/`@71>$`1`GGDT8Z[
MZ-<%9Q+0:`<-$/5:)#=%4"3!K\_-0$L6^J!)Q!=>%M"E3C-\804&8-1@[;4U
MH)'I.%T`P08#08UP7CL&#-`!`RQDP$-04&1``"HID"$@$_36RT2!9(4E1AEE
M,'%''GI,X957#IB5QQ0(3X$""*HT0,9S;\@@1Q\Z%%C&'4)@H$<7CM&Q00+7
MA`&..GXU``!?JJ93:LHLMZQ.`!6`@8:&+K_3Q$8>7#`!D:A4,#!75*!QIA](
MT.`!#1:L<T$_-&BP2Q457N%<)@$T_]$$"$FD\#-7S!;PQM94M,#L`E;L@``8
M',/CAP$\_*"%(N9>XDX`0<U!WB`9[,('$W<B2,86E`J1QP9GG)F)'QL(<98#
M1J#B1\$.T(Q)%PN<L(<1.P@Q!&5<.'"660](GDX2!7NQ;<V[K#R/'WK081P7
M?S7@@!1_E&QR`AM,`8/ACH%`!!@[?%%%$%\T@:VU(/!^.!''U]""%4*7XT<7
M21!A?=KJ)+&#LQ@TBP$55KQ!11/:NI,$%CM8D8*6%Z10`1I$8&%%$-BKXX<%
M?H!0`0>:O5#%MOEC7A":Y:PJ#*T*7T`;-TZ@@P54"W^80,ZAE",`$B!``(TH
MP!^Z4(,@D/^`@#QY0_T:XY[WF#`#+$B/(#K0@3G<(`/*TX01!,85//`A$T"!
MR@C:-:X_@&`*9+!3"1QP!R\TKAY&0($9L`$`T6EB`V8Q@V1@D``AH."(FI#"
M$#ZW!"$X<1U;$`+JR*&Z=P3`#`[P!@"$\`!0P8(,,'`C$S='&>TMX%E>6D`%
MN`&=+>%1)PMH0CC\@#XK?&$!=YS!#*Q0`Z7Q9`8(P(`5"!BM&&X"!&AHP046
MX"5%ZN0+"U%'"DAP'4[N9)'PNX`52&FE&32O!BGH6@&D985:UO*#6!I:A:!T
M!27H0"9CV&4C<-!+'?RR!D3`I4Y(L`-%5H$FKQQA8YY""$',(2C_'8@#&U@`
MA!Z.`PUZ:H48F``.%[`!A=[$Q!WVQ*?3M0.-2_@<`!XP!3T,$A9;D$S!S#*8
M-APN`9]+`!;':)DR_D&+*%C`SC13!`WT0`(3,`&.,K&!SV5CC5[`1ABV,`2M
M8,,,M'L'")H0A!V032%_H`*TRJ;(258'DFA(@2E!F!-FS6`'0:@"`M+W'9D2
M,`6HB!\1,+``YG2E.U_`P`P"236?^726)K72%TCP!C2XE*8U?8,BWV"%F1;`
ME#C]&1C<F1'KF)2`"`@'$:YJ'6=1`14(P!`<KH`#82HG"P(@8$]%=*IR59,0
M([C*.BH@1&BL!0!WL.<N-L"*BVUA`P-%_P45`4"&#4C!#TD<0AM`T`:0:90,
M_B3'7QQ0#RYLP`QMD,(9A)#1P,0B#%Y(@.=@L00Z$C03>\2$!1``5$Q4H+>[
M!6YNQ5&J)BC`!$C(@APF$!L;_4@"2("(%\00ACN0P7.P10'KR``8+P8@"5S`
MPZ9,-C)V-.$+>"1;=S"0@AHDH0MHF%GS6F"E._8D6CN@`C2Q90&O/M)97W@#
M<ZH`AB94@9,+P,+Q[NA?:&'!#_`S7`6^9H$N$`$-;_`."!6Y`&:"P0*8S$?U
ML$6$%/SQ2SL(92:Z,#8:C($&16@!$>"+P.Z0C3DMH,D7-3%46_K8"E0@`H*)
M``(_!,#"\]&!`/^6+``(C.$*5X#`*1&YROH&N0N6M`PBGL*#$V;`*#]@`SGX
MD((]D$%>>^";&!(0!(%M816M2(`[B>"`L$S!"/H)`!]VIPD_Q!,6`$CC$@!`
M:"^`*@Q+((,9\,!7<F1T";N@PQ8(U><S#(&U#AAT8+P0.UE8VK-,]$+A;JL)
M`62"!$O>8P52_0=4"V"/%B3CY)"@FAHY04BX]@`'"C"&,LC!!$4H`!):X#DO
MHJ*BLKMAI(=`5E[,]#O*+,`.TO'4KPY,@>%`P_:^1-5M+^!_$8P!$HJP``6<
MV#MXQ$"SQ2'DI>KD:UOC2@K(EZQQF-A+%Y@>$7[;O0)0(4D<&!,(J$#_!0MD
M61U4L/$;+E#2!4!`RLVZ:1!R3(0`6(`*7)GHBPC`!@/$(0X,N)M5V@&"/%2L
M;UL071`R6HPRC$R+!2!#,1ZV"2YXP0&A_0,7&&2R/V7#`0_PE#JV8)8S$3T,
MRHY@&WV>C27D'`^M74(""D-J3>Q`#)@00%K_@(,_F)KK7O\#`F9R@G*0``U(
M\(`=[*!VBCC!";'P]:UA(09<V]T.2`CI+AX`"U%A(@!ZX(,1(,<'/;3A`9GF
M2Q-FB05]U"!]&)#F.`*@2A6GPP+X"$`,JN`C#[R@"$VX0!%@(YL#O/0"69*\
M.HC0`Q/D@%<:L,)2ZQ<`-#BD!>M.!X2Q$)QS_P<2-JJ?3`"V?:4OH,'`1,W)
MM]?="\/V[6)L9C0=$.``L7AA`W20@@52D(%M0F$$/V"``=@P+@(DXJ\KA((F
M+%`!A$%H%UD[`YS#PJ^U3"$<,'#^G<J@6$R@(!L/X`6?$P8/$`!T(`1IE``/
MT`8`@&@P\`X/<!;V)`6M\P=)\#F$P@<HD%%F(1A>P%$H@%WE577EL&I9MW5=
M]W4I*'87M'7CD`4<,`8F,(,"8`)E(`8Y(`=,9Q:Q\`JO<`>[@6MXYSBBEP1_
M$09')`5MM`3[A&B#M@1WX``)T%4%0!JGT@4*@`2Y,@$0U5Q`8G=#4@3'4W'P
M$`,O(!I>:`>H(3J9P?]<_5`$6*`!QP5C&K<+?J`!FV%<-'``$^`9$G``U'%*
M"D$#=B`!+P("6(``N"0`.*%U]5,#!6`%!A<.4I`'KM`GF&A88H`#-Q@6GN$$
M_<($.6`N<#,('?`#!$``/X!^4($NWS4$"7`'`-")%X,R##%==E(&"8`'=!`P
M=[8+>I``A$$&F<@G);`%^F$$G>9S0Z!W-6=#\+`!UV`&@T=H,$!TL.``?I``
M?X86>``#R<,0*(`"),@.7Z=UF+""8.=JJX9J!I4).-$3$.`&;M`!:S`!@W8'
M$.``97`%<*`#EB<.1(,;U!%LP;8;$Z`$M"5;;B0&3A`*7@(!:K@``2D9XN;_
M-)A`!$CP([,!8S_B>2:P`#T`!#&@`+CQ`AQ``Q!U`!P0;`I0;YH@;@8I;#WP
M`E[H$A+07+HF';D"AA3A`548E#-I`D%B=UPH`9J1DC3B`0K0(D$P5T(4%HTP
M3K.(,1N@!WE`*<R@.7B6"4%0?24``).BE<Q`!CG@&6CI`:W@!/?!BH*P!BPT
M"#=P-VOP&1(P!GO@*2#@!7W3EW>2<N4@C8"!E6,Y*7F@"T;P`%MP7=?@`)HC
MC8BF:.1H&3!PA!IE46%@40"0`$)7CO)PCB@8=F"W6PAP`B;8=>(``=)2;@J@
M`#G!`1P@$(B55SD!`4L&`3-@/-:2#YB0!!!T.!K`_Y%V!W<-X)"@>!/3\9HS
M"`$NYF))PA$*`!$/Q@LD>0_!T0/N9`%5P`%(B018$`/)HWFT]AE%H`![&"03
M0`-G2`-(,))_H`$O\`(7T`-H4#]W6&M"8@<F$`//X28O0'H_B1L[XP0'H`#X
MX!!%4)0V0@,*@"1``AH]Z9-LMW:@\0(AJ9(Y*80+L&.300=*T`AJ$**V,#%7
MP`IO1W]]H(G&@`,.D`=!(`2=R`3WIPD9\`,C$!35Y`%,D`9Q<DV#,`=IX`$Y
MD`-O]W:CN`CY(A8X4"]AT0#]$EM#`(LXD*3Z$H4)P*$1-$-+AV@-8%NI,%O8
MP`41=`9XH`=8ZAA2L$^R8_]H@,:!)@-T9W"FGKD.H)F.HHF:+!AV>,H-*Y,$
M;+43319Q;Z!@AH0`C:<)#EHC$\`!07)KK;)K.F$"?]B'S>4$6=`'-:*&NY:2
M$.49:]>20BD=0:*&$F`"L(F?LJ&?17`!![<+6+`;'G```R$;GQ>4W.F3-@`'
M]\($R,`>(+``,W(`-,`!V(D),4!N[0F>)@F&KZ(!B*0!_-EG"["';F@'+U``
M"E"1E"$%.B`'=2$`*(`#0EJ73B!.QM@WXW0!#,`#[,JNI?A7'7`W^,$&(,<#
M#,`&22!SYEH"1YH#>7(O#7`G8B``0[`PFP`#RU"86S`-Y+!:8+H@0Q`JSI@)
M((#_C8'A`'^#*D2W!%L``DIH,F;0.;*36G.:(IF0`K]P:F.@"2O[!R@K:^'0
M!2E@!1<``A9`!FUYC[_T<`\'J#VQ`$$`3?"#9=_U/!B0H$-2JE^B'6A#9F\@
M%X[P-7I`!%L0!L;IJ+BJJ`=@`0K`AV[8#W8`#390KGBR!6A0`0A`(`:R!9)G
M@#04!!N0!\YP($)H!SJP`[FE!WPC3IT8%K=@"SJ0!1"``0*3!P';6'L0>!,;
M#@&01#"Y`SH0!)'%8WCP,WFP1C#JE\9P!UM@5%UA#>(T%E"B`6<2!RM4BNK!
M`FP@6+S0!L[`!&W``FH"KS_`NG^WBO$:!ZVZ(GIV!GI@_P3.R`>Q$V@)H`?&
M,06P,(*_T5HY5[+.2X+ON`L@D`5'.@!$.A9J<`5CP&LP@5=7HD@D\`6'!"T*
MT`-8L$DYH0,5HAQ,($RUH`9E(!<ZF`V*(@?V*Z*U(`.9R"],L#%$$`,.<0'*
M9;]"Z@%.D"_T%Y5]8B\,W+<"&Q;,H`19<`<WR`08,`:4<`4%H"$S)#`;,`,Z
M@`.V<`MS80LJVEC]8EUWP,#U<@=[T#DXD`.<NX!<(`4!4"%R``#VPKG7R`3A
MI+G%B,#HJBAJ,*+>*@,3X$(\$`<L<!X$0!YS@$(&<#<M%*]08+N8$`=W\T(G
M1'Z[0`#=]RXI<UI)L`'Q)!A,:/\&(,`''$@&-:P)>G`--*<)*/`79)![SYO'
M*1.]X:#%Z)<#$]`(0[HS<.!+WNLEM!F).W$H=9$#!U`79?`G91#(%P*BBQ(6
M([PH(6HA.``!'@`-^^(%`!,`"MR7?N(O>?"`DM`(??`H5/"A&+)+?7`V&"`V
M]#$5$/`"E%P7<O#)IER]`[`&9]F6=H`@(*I_Z(J)>B(&#D"6"KN8%)RD)%P7
M;0E8<#,GF""[?[5#KL@`@X"*>8QL<H0-@P8+QK8)`<!=`)!S`=`&'"BF>AS/
M8\3'?,0"//"N;VD?A&`?P@QE4%;(63`&3D974:83`C`&%"(#.7"/2#P!^CP`
M;O#(2+S_T/8Q`9-\`)'LI&X`R#OC!KM,%8ERQ'/Q`CIP!731AV+@PG@0`ZJ+
M`#JPPBS,!)S8R:20!P)V`F.@`U";P8S<"#?@<+3@CS"Q2SM3U!)P`W/`S\+\
MT95P`!/<!S<X%D(ZI$HMS`M-I*`HNA+#POCB+T*P-0#!`3<`!0;0Q.B<!'1P
M!C0T!3V],[)*`SRZ!C=@HW/@HX.@!4Q!HS>@!5"`U*8X`C=0-SR`Q>48`+9C
M%EY@!HIY<_)D!ASZ?Z%"!TF`.`UH,KLKSYB](O0L#FS3KNP*Q?*ZSX!\(8\@
M`"6],PN]"-4LVH3@UUH0!T40,G?0KN+W`P<PI+C-U#M#"3O#_P))$`3!,`.[
MW`?`,`,"(=$+8(?S4<F5,-J\G=H[Y-%SD=INN0@Y(`$%P,A<^`)*0%<7LMOU
MT0'T.*0B_5:98`%#L`4DH`L!X!X?%P<\L``O@-LY@)+!\`85,"9$4"$.C7Y+
M\0<<9P#K&MA0(,;<0``&\'TX:DT&\+Q\D#BQ8\?."`(@`P!>N@M'B+&*$0M^
ME]D>CBJ;+0\N$'+8Y-%%#1IN4`D[L]IK@A1['7[:M"Y_S0"$30>@LA?".)F:
M``1/0<D'X.)(`05YC0I`\`,)71?*P=QS4=1IX-<,/0$K5$V`/,AK,`<\D.!:
M0!X=H`4\,-??\@-[+6:MYKYST0=S1?_F*#$!N,W0C:``Z81#I<C/3&TA4;8`
M9]-?/CV7=8VC-T#8[>`"-8H48NZ9`6#&V9!R>#P.9F!1L8"Q#_CAD&XJ(3X/
M'(="Y]3%;,"CZ*<%[L([E]Y]P:<'^P0J`.`'9B`$;<`>YI?4:Q`'4P(%SDT)
M$FTA#EW5_#P`-V``5P$$!O`4<0(%WX+/@M`N0P[@W??FF^`'.]`'?7``M^T&
M2$!P5``&%P8&,_NA@=33=+$&K^TNFL`&Y+'42FXA%/.A!V##!``$JOL>?A[I
MY!``6X0-#C`$,,D.4G!X9/!GVNCN_/XBD^[A?(`83/1:S8P"EYT.'%`A](W;
M`\#I4``W\:K_!>BR"_8<!\B^-EUF*OW%B-U=(3A0!!--W_1H'U(Q%PM0[^,1
MS!S]T:C1[_.`;(ZY`7+J\C0/O36_"Q:P!0YPZJ1N44N@O/.`>53@92;$%.;T
M'MO4[G]':M1SMEB0`M/>!3N]Y*P,!SCQ/2E0[\;Z96]CC^+N!DI_\[L@!70P
M!0'8(7PF]FI?LO_N[@'P?S__`-P("UZ@]6MO&0A@TD@^!F^`>^L0`%^N"/:A
M?G>O-QL`6>D-IK!`:87?^`35]F)/!V<!:8X?Z?`=Z7J6,%.P`?EN!GP0`%P`
M`WP04D;`Z(#6S%QP\)6_^BP"^6(O\%R0!%4T!#"PN*Q_^^4@!6:@_X`;D'3N
MH(1"8`;+B`U>$(&"D8`9/FBX4_NXW_PLX_HWSP?<E9D758!^T`;-Z_S.+P6*
MHR`)D&5^T$:.B0)TL'1,)Q@[B$_:O_XM`_TW'XR`H6F`M@%OMD:/SOZ-SS!Z
MT#I5"P@-84M+`&$-#5L)0G1_CHX!7'1\#X>"`$N'80""#U.?4UPP9(=+0@E>
M#JH),(^NK["QLK.TM;:WN+FZN[R]OK^^),##Q,6T4DL-0EP;9EN'G(@-#F9&
MQM?8V=K;MWX;0N"HA`Z(`$,P9QL/T8@.0N<!?T,`#E[ER=(`#QMY0[%\"<((
MX4:PH,&#"!/6$J:PH3$IK@*8R4<.41@R7/\B)?E')Y[#CR!GH7"G[9FTD^W.
MO&H#S1*B)2:E+5%Y9HN#!'Y"ZMS)LZ=#ACZ#UO*3H,',)&;8`6#IQ9HC/RC(
M%,+32XHZB$*SQI(R!%\C7ANVM/G#IXV9!"@VN#3J94LR(4XCGL&CQ\Q:BYP2
M?-7*MZ_?OW^``@8<8$/`DZ:$.&!G5,^N#14=;'QT;G!"&$(RH91F!I:?-@D`
M).#"Y:R#3?8VGP2PX=?G!UX.F<EIN;;MVP4%X]:*5+7%)?8&D5ED9L,4E8^D
MG&DSY!3C+4FD@`[CX`$9,UAWXTK")?LK/?A04N>TA(RJ\XM_:Q:O"8![04L>
MT`;&!\44$-KSZ]__;TLW?YX!V%./)4LD8`8,`52T&0!GH&`&"D(P)HA4@FP1
MTTG8_?>('T8P9\99`)CA$5G?*/;2(N`(44U1OI7CTB`)G*;/`T(\,`0*;=2(
MH(8\]NCC+O[]Z!<79FUAGH3T)/!`&QX%L$4^K*!RH30.H%"0%#89V`8*#>*Q
MHRY^Z#%%>.*U.`T?LDB!RA#>">GFFW`"$V2<?06@!UN-C>B*%*>Q,J(W=S7`
MVAGFH>?%6+[0\8`J[$'CA6.X@.`%.X-X\<XG7)!YD7%XH$GGIZ#Z6($`I"+P
M!P("5.`(JJKB,F>H0M)A1HJAF9E('E;"(D6$@K()26PGJ2(A(@^0U6$S_VWD
M9%8;,$C!A8(`#!1+$M\\P,5\L&:KK78(Z(```A58\.T)%:0@0+=_I/#J(^MN
M^Z,4#VA&#WKL++%!`,Z&-9Q+HA7W0#FKG($.'J`8MHD#A+BWB1"0;;($PH)X
ML0$*D[EK\<7[D6#JJ@(X<F['.`2V,2WM8JQA`+(*@0*V&RBE"));#+N$K[0H
M:*LT9%1L\LX\#P8'#C@(@ZK'0^-0`;DI+-3SQ?.@])X#*HVDL""MV6)$C`EL
M45P;T=CK3"K2+BWVV$&UJN[0?PA@@0!!"W""`"0D/4O)9/\(J"`),`O#%'M)
M08<>]G7W"QT$[U7WX8CS]+''['Y[[LBQT)WXY/^45V[Y1SNHJJZZZ3)D@0ZG
M/D[RY:27;OKIVHQ**L<=KVJJZJW*(CGJM-=N^^W!X*[[[KSW/K?OP`<OO.FS
M#V_\\<C367SRS#?O_&[+/R_]]-3W%'WUV&>O_3;7;^_]]^"[&O[XY)</I/GH
MIZ]^8.NW[_[VW;\O__RTQT___?A/;G_^_/?/\_[^"Z``807``1KP@#\J(`(7
MR$#M*+"!$(R@7QXHP0I:<"<4O*`&-WB0#'+P@R`TA@=#2$(-HFH'?[``"02`
M0@O$[G<EC*$,<U$!4VFL:*'KSPQWR,-8H&UQ(6N=TGI(1![^L&@DV`$)QE`+
M'4#@B5",HA2G2,4J6O'_BEC,HA:WR,4N>O&+8`RC&,=(QC*:\8QH3*,:U\C&
M-IYQ!@WY8>A&M<)O%?&.>'R$'!TQAAJ*+H^`[&$-1>:(487.CH%,Y`Q)@`.Y
MI4MN2U2D)"=)R4I:\I*8S*0F-\G)3GKRDZ`,I2A'2<I2FO*4J$RER48%.7#I
ML9"M0I40*Z"J%;)KEK@<H64TY@I7KFJ.CU@=+`,#-T?8TA4,H2/&5M@J9K["
MF1X#BBM+Y3$A_O(/K-Q9JH(YRUKF\I5IVZ8R'T%+CKW07<=D%SA/I<=SO1)V
MV'3G.H%1`2;*,P5BV%C(L"D'4[GP#WUT1!`WE[:DZ<"%)_C#08_6N6W%[9[Y
M_W2%$@$:+FO^8:`*79M!+9!"MF$SH9Q#IR/C]@=R13-IY/I<0].V-H^IT*4I
MU$''ZAD8%%JLI2%K*4N#N5&&6H"CJ%*INA@:T@KT\P\3#:C%PG511ZQMGS^$
M@R,VU[IST31N5[4I/HO1*K5-U9U%M>,_TQ:8I+4JB*YSI^/TN:VD>35=\K1G
M,/_)Q+)B,ZVN2V$%@LA6=R6-I%#M6!\#^RT<U+6/8Y5GVOS94B%:-%LNY-P1
M`4K64Z'*5'9,*4<O*L]]UM!4CKU8N$BJUWV:-)Y391Q+7QA:N!H#GD2SK!XA
MMT]K5C6MF/V6,"H@!G1N,[9-;:TP+8I6V0ITL<>UF/\S`]M4PH)ND/L,IBL4
MV['67FQUDRWNMQ`@--#V\K+)E:UU?2N8VDZWE[<-)MHJRUZN)C2V!YWM(W:`
M0G.1DR&M6ZML474".2SUO<CEW'@?^@@5NC6OQ^VLR8016,X1=F0A3>%I@4O6
M\5KL;%7E[H'W*P!O)9&<)UA;7\4KW04[TK/GG:^JE-HYG;+WL;T8F6--%5WC
M<I=CZ\PO>+=[5H>J%KEV=.P@%RM$7E86D<$=L;;PV]1#TIAC2$;R;]4K70MG
M:\B+([)J>6Q9Z@(WND$NL;M<B>0:B]F7T37DB\4L)V\)P)%9EJ^XOJ5FA9X`
M`7_56%WO?%@-;ZMM<'XR7-'_E0(<A-D1.K@S`E2H9U>8UL_N"MJB.X>`A.[S
M;.\=`W<9Z51O?4N%NDVQFQW95D.#3F3<11L)&@U0/%?6`OW,+*1E:RYT76S5
M"*AK@B'7NA1X&I%&_;1"405G8XCKA>$ZYT]3R./8;5=N*1B9N!X1;5)G*P7(
MYJ@C:[A9V3I[N]J&7+J<ZNJ+17NSYQ[W5">]JJ3);<["1G(AR7W.,7=;K+&+
M-K5=W2IX^[/<3MTLMTVF;U>8M=MW31>X!0YN9B-;E1"/N,0G3O&*6_SB&,^X
MQC?.\8Y[_.,@#[G(1T[RDIO\Y"A/N<I7SO*6N_SE,(^YS&=.\YK;_.8XS[G.
M=\[S_Y[[_.=`#SHPN@`&!("A"X](0@J"T`3:5`#IC@`#%A2.9]KXF]U_J$(5
M]%@#<EH;&V"@0M==88$J@`$_A=PN`FB#@+$S.QM8:%4`HNT1,!`!Z]..MMKS
MC89]/WL;2@=73L;Z=D<0/0@5T!,:@M#W=7^+"CK#)A@"0`6T$]X1-:CW-0*P
M^*,_(@!WKP(1/*+W[3+[[U</]]ZUX8<*(%Y/7<`S$?S^K:2I7=B@1X#H20_U
M=&G^@GX0@!Q*(`<(Y*0&$%!#"?IP@HT8N0LR2&@?2E`"->P@'@B@OO8W!@+J
MH[T$2O"(1[=!A>%?X0VTJ8$.B`^!L0M`^R5`_Q_`[Y'L9__CB4Z500D:KX0=
ME&!D]C=]\-<Z((`#0B2`U&=FQ=`%8Z!\?5```;!>]O<':"``RF=H\_%^!?`(
M""@&`M![?@`!`H`&,M`$?Q""U@0",D405@`')2`#`C![I^*"X+<Q"$A]IP)_
M(9-]\&<J-U@",#8,,X`#)8`#!6!Y[R<&2M`"CG"#(0-_U(=9-*@$^H0!'F&`
M)(0!:F""6*`#HG<%$-!W-:`$$``"*=`'X3(&.H`?6!@$<@`&.>@9;P`'<"!_
MU8=?"E@,"-`'HU<!?8`!?T`%5Z`V1"``5S![X_<':I`T=X@?$W@-)'`%CF`%
M2C`&$/@'[?=_>E0"G!4+;V"(.O/_B-DP`W"@*F``!U@@@9Q(!)58`P&``3BP
M=7^0!%=@B8^`A7\`!CCP!:NR`SAP`D.(>`L`A-3V?D$X#%W`2*92B*!C!5=`
M`DC7@E;0B;W$B=4("[C(#:Q(!7]`!#I0`%T``DJ@!'X``E:``T&PB:\@`'WP
M",X(C7\@C1>E!.E(C?+3!5[`!/JXC_S8C_[(!'<P!5$G!E^`=G]0`&/0>TD`
M!]>W`#HPA+2!A55P!5V'`=;H"E@@`S50`S(P=?\'!]R8B#]P`R19DB9YDBA)
MDE!``(X@`V^P(?@Q!KK&@!N8B(LX?P@`![QHD4\Q`SKPDT`9E$(YE#]YA%2@
M!OBA!"1@_U1$T`4)I8F.P)/9Z`HR@`&V^`@\F1PQ@AY<V95>*00;@0!RL`,&
MN5X\B9`*B78(201`@8M8L(NK4@!JH(5O%B[9F`)=,)4N8`(2T)=^^9>`&9@2
M\`(]D"YJ@'`;,982Y5]3^0=9B947>8L6%0!88`66>9F8F9F::9D8((-EZ`H@
M$``[T`>]YXR0N8[1I9CSQ9A5H`.JTICM0P90.)NT.9L-\`A8(`!TN(&-B8MP
M(`,C0X34MP,YP8/4UXZ!(8E_\(SSAP$IH`:%&%T#,)W469W6>9W5R0".`)6.
M9EM!!']O$`\EX)QP$&W6N`,RD)[JN9[LV9[K^05$`))=(`=5$/\`_=0$ID*;
M%P5_R"F(-5`%<G!OD<DB-V,F85`L6:>;2IE#J\*)N$@JQ01K6R<`W+B?U.>!
MO;<`2D`$<C!U`D5<UJ0`-C"B)%JB)GJB).H!<0@+W!F'PAF%.;A],7J<`L6?
MW3@#!9"C.KJC/-JC.FI3>9B(*SJD'A-=+6I_(7,"4@6;ZQ,$=_"/4`JE6_!V
MH!<$2O`%3S0?(*"313H?.$"%.W"ECOE_M7>"<"`&0",&<-!]"!``$%``B9B2
M<CJG-Y`!36A3W9@T60`!&X)_PH<`5B`'4/=_`7`"69"5]424BJJH67!TED@%
M<("(!;`#6U<"!8``&(``!>"@5%BF`:#_!&+0!],W,H_Y!VW@E:B:JF2``M/F
M!W?7!P@0!$+$DUEZ43B`ICG8![<:?O.(*E<`AP*E!J&Z?'75F]:$!2\@F,JJ
MK!Q@F-TV=XJ(ITBE!KTJ;!;9<-=:IM7J:EUP`9OYK>#*A)AHD)37!5_0!_/Q
M!L@YIJCY"-8G4=0:,NJ'`$QJ0?@T=@'`-E30!\#JF%?0537VH%(EBH&(`R(H
M`!"``U0PGG]0`WV@!'E(#`60!8^`D(%!FE'7!R$9,OFZ,0P[AINJ#2?0!UD@
M`-@G`Q"0GP#HH!:%!FIPL&2HCMJ0`B6P60%@@&``8&]`K?O:KQX%`4I`*LG7
M=U@XGT($`7*@_P-P(`?%9(\?N@V?PXN.T`0AXT2T$8*@TY@$2[!.JPU44(^!
M2)&\!:Q^H`0;V*#MBFC&]Q00D+6.4`4XP+0A%'QJ\`:5)@-;-P8X8+<DH`8+
M$$P!ZRT8\(!CJG86,`9\^@@0D`50:9$1.PQHT`=V6P`XT'=$H+<8\`8X<&J)
M:#0X.54XF`TM4`)B(*Y$H`9'Q9U2^6O@\@52-;5B((.E>@UEN[>:J@98P(`+
M`*BXJ+<:0P))2P1B8(*.P*6X.+@;`P9*D)MG^[3=R0U'>2Z1B$)8<`6>I@,X
MP(2-.;O9*FR;NWK9H`:72@(R4*$SH`:8BKTRR*[3%5W5>[W9VV1I0[2,(00"
M)Z!_5V!3(/`%5U"#O2>DPBD&!=!WQAF%L-I+TP>(?Q``/\,--:`&XKN^]BL#
M5_`%D]&Y&\BP"PP!D6D,1$!]4'>SFJC!+@J%;#,RGSJ-1(H-1""7X%>/5$"$
M,E"0C@`"HPE^&)`$E#@B]$J-^=HZ<P@",B"MQDH05:`$)9`%8-L$`B`&'NBA
K6MO!!:R)+TI]Q_@+&-"_$-"O?F"13+N^*RRD3.S$`@#%C^"R5\PC@0``.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
